Overview
Chart #1 - Fantom (FTMUSDT) 8-Hour
Chart #2 - Polygon (MATICUSD) Daily
Chart #3 - Bitcoin (BTCUSD) Daily
Chart #4 - Avalanche (AVAXUSDT) 8-Hour
Chart #5 - Fear and Greed Index
Chart #1 - Fantom (FTMUSDT) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
The $0.40 level is currently acting as support.
I am accumulating FTM in the $0.375 - $0.40 support range for a long spot trade, with a stop loss below both the daily support line and the $0.34 level.
My take profit targets are set at approximately $0.55 - $0.60.
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Chart #2 - Polygon (MATICUSD) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
MATIC has built a structure above $0.75.
This is a buying opportunity, despite retracing nearly 30% since late December.
The support zone extends to $0.65, and approaching this zone can be managed by entering partially.
The next target is at $1.15, giving an average gain of 50%.
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Chart #3 - Bitcoin (BTCUSD) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
There's a deafening silence in Bitcoin price action!
Despite the Bitcoin ETF news, there's been no reaction. Everything seems to be at a standstill as everyone waits for an indication.
The local support is at $40,000 and holding, while the local resistance is at $45,000.
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Chart #4 - Avalanche (AVAXUSDT) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
AVAX is another one I'm considering for a spot trade.
The price is currently holding at $35.00, which is the upper range level of support. I'm looking at accumulating in the current support range of $33.50 - $35.00, with a stop loss set just below $30.00.
The take profit target would be in the range of $50 - $53, an area of resistance.
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Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 63 today, indicating Greed.
The highest the index has been over the past seven days is 71, and the lowest is 52.
Banterβs Take
The $42,500 level is currently acting as key support for BTC, a loss of that level could result in a test of the next support at $40,250 - $40,800. In the meantime, the altcoin market is continuing to bleed, and will only reverse once the price of BTC stabilizes.
Stay safe my friends!
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