📈📉 3 ALTCOIN Trades to Take Today!
👉 Maga Altcoin trades with a Stock BUY
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Overview
Chart #1 - Total Market Cap (2 weeks)
Chart #2 - Bitcoin (1 Daily Timeframe)
Chart #3 - SUIUSDT (1D Timeframe)
Chart #4 - INJUSDT (1D Timeframe)
Chart #5 - SUPERUSDT (1D Timeframe)
Chart #6 - Apple (1d Timeframe)
Chart #1 - Total Market Cap (2 weeks)
Chartist: Sheldon
(For the chart screenshot, click here.)
The Ratio Total Market Cap, is the Total Market Cap less BTC, ETH and Stablecoins compared to Bitcoin. The chart therefore gives an excellent view on how the General Altcoin Market is performing against BTC, and also where the important support and resistance levels are on the chart. Looking at the chart, and on a higher time frame, the General Altcoin Market has been “bleeding” against the Bitcoin since around September 2021, but recently has entered a key support area, a support area where the trend reversed and was the start of the Altcoin bull run in both 2017 and 2021.
I think there will possibly be another “flush out” in the next couple of weeks in the Alts, before hopefully the start of the Altcoin bull run that we all have been waiting for.
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Chart #2 - Bitcoin (1 Daily Timeframe)
Chartist: Sheldon
(For the chart screenshot, click here.)
Yesterday we saw a retrace in the price of Bitcoin down to both the Daily 50 Moving Average, and also the important $104200 bottom of the range support. I am looking at a possible move up once again in the price of BTC, to go and test the next level of resistance at around $106800. A rejection at that level could possibly result in BTC coming down to test lower support levels, firstly at $104200, with the 0.382 Fibonacci retracement level below that of $97800.
If that level does not hold, then there could be a test of the bottom of the range support at around $91000. The next four to six weeks have traditionally been weak for the price of BTC, but for now we are trading level by level, and managing our risk very tightly.
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Chart #3 - SUIUSDT (1D Timeframe)
Chartist: Sheldon
(For the chart screenshot, click here.)
The price of SUI has retraced down to both the 0.618 Fibonacci retracement and top of the range support level, at around $2.80, that is providing an opportunity to enter a long spot position.
Entry – Enter a long spot position around $2.80
1st TP - $3.20 - $3.60 (14% - 29%)
2nd TP - $4.10 - $4.50 (46% - 61%)
SL – Just below $2.65
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Chart #4 - INJUSDT (1D Timeframe)
Chartist: Sheldon
(For the chart screenshot, click here.)
The price of Injective is almost at a major level of support, where the 0.618 Fibonacci retracement level can also be found, which will provide an opportunity to enter a long swing trade.
Entry – Enter a long swing position at around $10.20
1st TP - $14.15 - $16.25 (39% - 59%)
2nd TP - $20.00 - $23.00 (96% - 125%)
SL – Just below $9.00
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Good Morning Crypto
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Chart #5 - SUPERUSDT (1D Timeframe)
Chartist: Sheldon
(For the chart screenshot, click here.)
The price of SUPER has also retraced to both the 0.618 Fibonacci retracement level, and to a major level of support, that is providing an opportunity to enter a long swing trade.
Entry – Enter a long swing position at around $0.58
1st TP - $0.75 – $0.90 (29% - 55%)
2nd TP - $1.05 - $1.20 (81% - 107%)
SL – Just below $0.50
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Chart #6 - Apple (1d Timeframe)
Chartist: Sheldon
(For the chart screenshot, click here.)
The price of APPLE has almost retraced to the next major level of support, that has been holding as support over the last two months. This will provide an opportunity to enter a long spot trade.
Entry – Enter a long spot position at around $193
1st TP - $210 - $216 (9% - 12%)
2nd TP - $225 - $233 (17% - 21%)
SL – Just below $184
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Banter’s Take
The very important US FOMC Meeting takes place later today, where the US interest rate gets decided, and also equally important is the FED Chairmans speech that takes place after any change in the interest rate gets announced. Over the last week, the Crypto Market has been in a decline due to the uncertainties in the middle East, where it is now seeking some positive news to reverse its trend back to the upside.
The General Altcoin Market continues to bleed against BTC, this as the BTC Dominance continues higher, but at the same time the BTC.D is getting close to the next major area of resistance, where hopefully there will be a rejection once it reaches that level. Its worth noting that the period between mid-June to end of July has traditionally been weak for the price of BTC, and it could possibly be the same over the next couple of weeks, where there will be a last flush out for the General Altcoin Market.
Stay safe my friends!
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