Overview
Chart #1 - Avalanche (AVAXUSDT) 12-Hour
Chart #2 - Arbitrum (ARBUSD) Daily
Chart #3 - Xai (XAIUSDT) 8-Hour
Chart #4 - Near Protocol (NEARUSDT) 12-Hour
Chart #5 - Fear and Greed Index
UPDATE: Those that took yesterday’s ETH trade, would be up by 18%!
And the Injective (INJ) trade is up 16% from the trend retest!
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Chart #1 - Avalanche (AVAXUSDT) 12-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
Yesterday we saw BTC get rejected at the 2021 All-Time High (ATH).
Then we got a crazy leverage reset guys! There could be another leg down, but that just means we can buy alts lower!
We can get set up on Bybit now, laddering in slowly so we don’t miss this opportunity:
Entry: Ladder into a spot trade in the $32 - $35 area of support.
Take Profit (TP): At the following areas of resistance
TP1: $50 - $54 (56% - 47%)
TP2: $65 - $72 (103% - 125%)
Stop Loss: Just below $30.00
Side note – Be careful of wicks to the downside as price enters into the buy zone, rather wait for price to settle before entering.
Chart #2 - Arbitrum (ARBUSD) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
ARB looks to be gaining acceptance above $1.8.
This is a spot trade we can take on Bitget where I’m looking for a breakout and close above $2.2, turning resistance into support.
Entry: Between $1.8 and $2.2
Take Profit (TP):
TP1: $3
TP 2: $4
Stop loss: $1.6
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Chart #3 - Xai (XAIUSDT) 8-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
There’s a focus on the AI narrative this week with upcoming Nvidia GTC AI conference.
XAI still looks good for an entry, currently turning previous resistance into support.
Look for the liquidation wick to hold has support.
Entry: From $1.1 to $1.4
Stop Loss: $1.0 TO $1.1 after the break.
A more conservative entry will be on the break and retest of trend to either add to or enter the trade.
take Profit (TP):
TP1: 1.9 (50%)
TP2: 2.45 (100%)
Claim your Bitget sign-up bonuses here (details below).
Chart #4 - Near Protocol (NEARUSDT) 12-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
I am taking a spot trade on NEAR.
Entry: Ladder into a spot trade in the $3.00 - $3.50 area of support.
Take Profit (TP): At the following areas of resistance
TP1: $4.75 - $5.00 (58% - 66%)
TP2: $5.50 - $6.00 (83% - 100%)
Stop Loss: Just below $2.75
Side note - Be careful of wicks to the downside as price enters into the buy zone. Rather wait for price to settle before entering.
Claim your Bitget sign-up bonuses here (details below).
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 90, and the lowest is 75.
Banter’s Take
We got a $10k selloff on BTC yesterday, but alts are holding up well, and the sell pressure is getting bought up quite quickly. $1 Billion of liquidations on yesterday's flush has reset the heatmaps to the green and brought new liquidity into the markets.
Looking at price action on BTC if it continues to trade above $59,254, we can remain bullish. Loosing this level and gaining acceptance below we should start to consider a pre-halving dump. For now, we continue with momentum to the upside and remain bullish.
Looking at ETH we have broken through the $3,600 level. Looking for price to consolidate here for a push higher. Partnering this move with a stable BTC price and a breakdown on the Bitcoin Dominance (BTC.D) chart from its bearish wedge could provide us with our altseason!
Stay safe my friends!
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This is great info, thank you CryptoBanter A~Team!