Overview
Chart #1 - COTI (COTIUSDT) 8-Hourย
Chart #2 - Sui (SUIUSDT) 4-Hour
Chart #3 - Injective (INJUSDT) Daily
Chart #4 - Dogecoin (DOGEUSDT) Daily
Chart #5 - Fear and Greed Index
UPDATE: Our NEAR trade from yesterday did not come back to entry, but has pumped 45% overnight!
Chart #1 - COTI (COTIUSDT) 8-Hourย
Chartist: Sheldon
(For the chart screenshot, click here.)
COTI is consolidating at around the $0.19 level of support.
I think it has potential and could rise over the next few weeks. So, I am laddering into a spot long trade on Bybit.
Entry: Ladder into a spot long in the $0.17 - $0.19 area of support.
Take Profit (TP): At the next areas of resistance.
TP1: $0.25 - $0.28 (47% - 65%)
TP2: $0.31 - $0.34 (82% - 100%)
Stop Loss: Just below $0.16
However, be careful out there! Bitcoin could have another leg down!
Chart #2 - Sui (SUIUSDT) 4-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
SUI is at an interesting level, flipping its range high into support.
If we can start to break from this short term down trend - to break previous highs at $1.70 - then we can say a higher low is in place.
Weโll look for the shift in structure to the upside and then get an entry on Bitget on the higher low.ย
Entry: Between $1.4 and $1.7
Take Profit (TP):
TP1: $2 (25%)
TP 2: $2.82 (80%)
TP 3: TBC
Stop Loss: Under $1.34
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Chart #3 - Injective (INJUSDT) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
INJ is looking great, following our initial entry onto trend with trend continuation to the upside!
We now keep turning resistances into support. Further confirmation is needed to add onto INJ as it moves into price discovery.
Entry: Weโll look for price to turn resistance into support as a great area to either add to or start on an INJ position.ย
Take Profit (TP):
TP1: $72
TP2: $85
TP3: $100
SL:ย Under support of $30. Weโll move it up after trend continues to the upside, assuming the breakout is not a deviation back into the range.ย
Claim your Bitget sign-up bonuses here (details below).
Chart #4 - Dogecoin (DOGEUSDT) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
We have seen a lot of the meme coins move over the last month.
DOGE has made an over a 100% move over that time, but thatโs not as much as some of the other memes. This could soon change.
DOGE is currently at support, and could provide a long trade for us to take on Bitget.
Entry: Ladder into a spot trade in the $0.145 - $0.16 area of support.
Take Profit (TP):
TP1: $0.18 - $0.205
TP2: $0.30 - $0.34
Stop Loss: Just below $0.1375
Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 82 today, indicating Extreme Greed.
The highest the index has been over the past seven days is 90, and the lowest is 75.
Banterโs Take
It is important to know where we are in the cycle.
Keep the $59k price level on BTC on your charts. If we hold the level and consolidate here, we can expect higher levels.ย Loosing the $59k level confirms a deviation back into the lower range.ย
Overall, higher timeframes are looking good with bulls maintaining control and money flow continuing to increase.
With ETH breaking out against BTC weโll look for great areas to start moving BTC into those alts - in order to make more BTC!
Stay safe my friends!
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Disclaimer
The Daily Candle (issued by Crypto Banter) is a newsletter for entertainment purposes only.
All opinions expressed by the publisher, writers and chartists should not be construed as financial advice, and do not necessarily reflect the views of Crypto Banter. The publisher, writers and chartists may hold positions in the tokens and assets discussed. Readers are encouraged to do their own research.
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Bitget sign-up bonus details
Bitget is a leading crypto exchange for spot and leverage trading, and is available to US traders. Get $8,000 USDT bonuses and 15% off your trading fees when you sign up to a new Bitget account and trade with the links under the charts.