Overview
Chart #1 - Chainlink (LINKUSDT) 8-Hour
Chart #2 - Pyth Network (PYTHUSD) 12-Hour
Chart #3 - Akash Network (AKTUSDT) Daily
Chart #4 - Dogecoin (DOGEUSDT) 8-Hour
Chart #5 - Fear and Greed Index
Chart #1 - Chainlink (LINKUSDT) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
LINK is consolidating at support. And we will ladder into a long trade on Bybit.
Entry: Ladder into a long spot trade in the current $17.50 - $19.00 area of support.
Take Profit (TP): Take profit at the next areas of resistance.
TP1: $21.00 - $23.00 (20% - 31%)
TP2: $26.00 - $28.00 (49% - 60%)
Stop Loss: Just below $16.00
Chart #2 - Pyth Network (PYTHUSD) 12-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
PYTH has given us a local support at $0.875 and it is back on its way there, while the indicators look like they will soon print a reversal.
Major support is found further down at $0.808. Weโll trade it on Bitget like this:
Entry: $0.875 and $0.808 if it reach there
Take Profit (TP): $1.10 (25% and 35%)
Stop Loss : $0.78
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Chart #3 - Akash Network (AKTUSDT) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
Currently at $5.43, AKT seems to have found local support at $5.25.
It is flashing a long opportunity (which weโll take on Bitget) with the Stochastic RSI ready to cross up on the daily and the RSI approaching a known level of reversal.
Major support is at $5.00 and the next major resistance at $6.40.
Entry: $5.25 - $5.50
Take Profit (TP): $6.40 (20%)
Stop Loss: $4.80
Chart #4 - Dogecoin (DOGEUSDT) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
DOGE is just above a zone of support.
If it retraces back into the zone, it will provide us with an up to 120% gain long trade that weโll take on Bitget before itโs too late!
Hereโs the trade:
Entry: Ladder into a long spot position between $0.145 - $0.16
Take Profit (TP): โ Take profit at the next areas of resistance
TP1: $0.18 - $0.205 (24% - 41%)
TP2: $0.30 - $0.32 (106% - 120%)
Stop Loss: Just below $0.135
Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 75 today, indicating Greed.
The highest the index has been over the past seven days is 81, and the lowest is 74.
Banterโs Take
As long as Bitcoin stays above $65,000 it will continue to build support.
We already see some of the alts moving to the upside, and we will see more to follow as long as Bitcoin continues to move sideways in the range. Bitcoin's dominance is dropping, so that will give the lead to the alts. Weโll make sure our stop losses are in place, as we are not fully convinced that the bottom from the correction is in...
Stay safe my friends!
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