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FG Cheat Sheet 122821
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FG Cheat Sheet 122821

Bitcoin falls -4% overnight

Dec 28, 2021
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FG Cheat Sheet 122821
www.cryptofootguns.com

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CHEAT SHEET

Pink = Bearish, Blue = Bullish, Orange = Neutral since the date given in “Bias Since”. Support levels are where the price could bounce when falling and Resistance levels are where the price could stop if rising. The black outlined boxes show the price at the time of cheat sheet creation. You can find more details on how to read the cheat sheet here.

What We Are Watching

We further breakdown our case for these cryptos here : What We Are Watching

Pink = Bearish, Blue = Bullish, Orange = Neutral since the date given in “Bias Since”. Support levels are where the price could bounce when falling and Resistance levels are where the price could stop if rising. The black outlined boxes show the price at the time of cheat sheet creation. You can find more details on how to read the cheat sheet here.

Are you buying these tokens? Did you read our guide on how to buy them on Sushiswap and Uniswap? Got questions? Leave them in the comments.


The Decentralized Reserve Currency

Don’t miss out! This Ponzi wont stay on sale long. Available at any local decentralized exchanges near you.

Crypto News

  • The Metaverse Land Rush Is an Illusion

  • Microsoft Executive: Ethereum Will Become the Decentralized App Store By 2023

  • Huobi Global Has Opened ETH Deposits and Withdrawals on Arbitrum

  • Bitcoin and 165 Pounds: Kevin Lee details reasons why he signed with Eagle FC

  • Binance Received Regulatory Approval From Canada and Bahrain

  • Patriots Quarterback Gifts Bitcoin To Teammates For Christmas

  • Turkey prepares bill to regulate cryptocurrencies

  • Binance Mistake on Bitcoin Taproot Upgrade, Blames Users Instead of Refunds.

  • Mexico’s Third Richest Billionaire’s Advice: Invest In Bitcoin, Stay Away From Dollars, Euros


Twitter avatar for @DylanLeClair_Dylan LeClair 🟠 @DylanLeClair_
Fantastic view of $BTC here. Credit: @samjrule
Image

December 27th 2021

128 Retweets1,030 Likes

Bitcoin Outlook

Everyone is home for the holidays and away from the trading desk. This could be the reason why Bitcoin’s price flirted with a breakout but then randomly crapped out. The price is now back at $49k and I have to say it seems like it is just wandering aimlessly. A retest of $45k is certainly not out of the picture. I would think that if we got some sort of higher low here above $47k that would be a show of strength and BTC will likely go to $55k.

Possible Course of Action

  • If you shorted at $51k looks to sell between now and $45k

  • Pick up a long on a show of strength between $47-49k

  • Buying a breakout of this rectangle could be a good trade

The Bulls’ Defense:

  • The price holding above $46-$48k as support would be a show of strength and an indication that buyers have returned to the market

The Bears’ Prosecution:

  • Price was unable to breakout of rectangle. Could be a bull trap.

  • Multi-week downtrend could continue. $50k has been rejected multiple times. $40k would be next major support. Based on recent price action it’s possible $30k is wicked to again on some exchanges.

Earn Interest on your Bitcoin

ETH OUTLOOK

Everyone is at home for the holidays not trading and ETH and BTC have no real story to pull apart their correlation. They have essentially been trading in sideways in lock step for the past week while coins from out watchlist are all catching a bid.

So, the story is the same at BTC. ETH would need to put in a higher low here as a show of strength probably between $3700 and $3900 if a rally is going to continue. However, the price could easily retest $3500 still.

Possible Course of Action

  • Do nothing

  • (From last week “If you want to short we’d recommend waiting for a failed retest of $4200” - if you took this short you should be looking to close it between now and $3500-$3700

  • Could look to open a long near $3450

  • Could also buy in if there is a show of strength above $3700

The Bulls’ Defense:

  • EIP-1559 has burned $5,022,545,072 (1,282,859 ETH) so far. Supply constraints should continue to have a positive impact on price.

The Bears’ Prosecution:

  • Potential macro double top that could result in multi-week (or month) consolidation


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