ππ Did FUD destroy our ETH trade? FTM entries revealed!
Bitget winner - 2718848787
Chart #1 - Fantom (FTMUSDT) 8-Hour Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
Fantom has been ranging between support at $0.44 and resistance at around $0.50. It has also formed a bullish pennant and should break out of that structure in the next week or so.
A nice long entry would be on the daily support line at around $0.4050, with a stop loss just below the line, or after a confirmed break of the daily resistance line at around $0.4650.
A break to the upside could take the price to the next resistance level at $0.50, whereas a break to the downside, breaching support at $0.40, could take FTM down to the next support at around $0.38, or possibly even $0.33.
π£πΏπΆπΊπ² π«ππ§
Sign up for a new Trading Account on Prime XBT!
Receive a deposit bonus of up to $7,000 with promo code: SheldonSniper
Chart #2 - Ethereum (ETHUSD) 4-Hour Chart
Chartist: Kyle
(For the chart screenshot, click here.)
This long trade is still in play, even though the Binance FUD yesterday sent ETH back to the original trade entry. But it managed to hold perfectly.
Our upside target remains at $2,000. I expect the trade to still play out, especially if bitcoin reaches its higher targets.
π£πΏπΆπΊπ² π«ππ§
Sign up for a new Trading Account on Prime XBT!
Receive a deposit bonus of up to $7,000 with promo code: KyleDoops
Chart #3 - Bitcoin (BTCUSD) 4-Hour Chart
Chartist: Kyle
(For the chart screenshot, click here.)
Last night there was fake news around a red notice for Binance CEO CZ and consequently the market sold off. The wick that was left behind makes for an easy invalidation point for long trades.Β
BTC closed back above its mid-range as well as its diagonal trend line. As long as it holds above there, we can aim to take our first profits at the range high, and our second lot at the liquidity-grab level at $30,000.
Claim your Bitget sign-up bonuses here (details below).
Chart #4 - Bitcoin Dominance (BTC.D) 8-Hour Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
Bitcoin Dominance has found resistance at 48% and is forming a rising wedge structure, which is normally bearish with a higher probability of a break to the downside.Β
A break to the downside should cause some good gains to be made on alts. The next major area of support for BTC.D is at 45%.
A break to the upside, through the 48% area of resistance, could take BTC.D to its next resistance at 50%.
Claim your Bitget sign-up bonuses here (details below).
Chart #5 - Bitcoin Fear and Greed Index
The Bitcoin Fear and Greed Index is sitting at 62 today, indicating Greed.
The highest the index has been over the past seven days is 63, and the lowest is 57.
Overall Market Sentiment (Banterβs Take)
Bitcoin continues to chop within a tight range. The longer this persists, the bigger the move will be out of the range. We should see some resolution next week.
Stay safe my friends!
Go to our Crypto Banter Discord here where Sheldon and Kyle give updates on the charts and trades from The Daily Candle newsletter!
Bybit winner - 2289855