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FG Cheat Sheet 122121
www.cryptofootguns.com

FG Cheat Sheet 122121

Bitcoin rises 4% overnight

Dec 21, 2021
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Share this post
FG Cheat Sheet 122121
www.cryptofootguns.com

Don’t miss last weeks public podcast!

Listen Now

JVL, writer for the the Bulwark, joins Hal and Boomer to discuss the use case and future for crypto.


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

  • New Jersey community bank to let clients to buy, sell and hold Bitcoin

  • Blockstream and Square Partner on Solar-Powered Bitcoin Mine

  • BoE Warns Bitcoin Could Become “Worthless” — It’s True, and That’s Why Bitcoin Is So Valuable (Note From Hal : “lol what?”)

  • McDonald is embracing Bitcoin in El Salvador.

  • Manasquan Bank Selects Bakkt to Offer Retail Clients Access to Cryptocurrency

  • Fractal Scaling: From L2 to L3

  • Ethereum Launches First-Ever Public Testnet for Full Upgrade to Proof of Stake Known as “The Merge”

  • Jack Dorsey claps “web3”


Twitter avatar for @BTC_ArchiveBitcoin Archive 🗄🚀🌔 @BTC_Archive
Jack Dorsey: #Bitcoin will replace US dollar.

December 21st 2021

362 Retweets3,219 Likes

Bitcoin Outlook

Finally, some buyers showed up last night and decided to try the trade to $50k again. If you like slopes you’ll notice this price movement “broke the trend”. However, there’s still major resistance near $50k. As we’ve been saying for the past 2 weeks, if BTC is going to have an EOY really the first proving point is holding $50k as support. Shorting weakness or buying strength at $50k is something to watch for.

Possible Course of Action

  • If you took the trade back to $50k consider scaling out

  • Pick up a short near $50k if it doesn’t hold looking for a retest of $40k

The Bulls’ Defense:

  • Reclaiming $50k and holding as support would be a show of strength and an indication that buyers have returned to the market

  • Santa Clause rally

The Bears’ Prosecution:

  • 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

ETH has returned to $4000. If you listen to the Foot Guns podcast Boomer has been buying ETH below $4000 and selling at $4000 since September. Now back at $4000 ETH has some proving to do. In its short history its spent and even shorter amount of time above $4000. To really show strength here ETH would need to return to $4250 and hold that level as support. Otherwise, rinse and repeat, ETH goes below $4k picks up some liquidity and sells off again at $4k.

Possible Course of Action

  • Do nothing

  • If you want to short we’d recommend waiting for a failed retest of $4200

  • Could look to open a long near $3450

The Bulls’ Defense:

  • EIP-1559 has burned $4,962,681,036 (1,236,238ETH) 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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