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Overview
Chart #1 - Ondo (ONDOUSDT) 1-Day
Chart #2 - Avalanche (AVAXUSDT) 12-Hour
Chart #3 - Chainlink (LINKUSDT) 12-Hour
Chart #4 - XRP (XRPUSDT) 1-Day
Chart #5 - Bitcoin (BTCUSD) 1-Day
Chart #6 - Alphabet Inc. (GOOG) 8-Hour
Chart #1 - Ondo (ONDOUSDT) 1-Day
Chartist: Sheldon
(For the chart screenshot, click here.)
ONDO has retraced to both the lower range support level and the 0.382 Fibonacci retracement, presenting a potential opportunity for a long spot trade.
Entry: Enter a long spot trade at around $0.90
TP1: $1.15 - $1.25 (28% - 39%)
TP2: $1.40 - $1.55 (56% - 72%)
Stop Loss: Just below $0.85
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Chart #2 - Avalanche (AVAXUSDT) 12-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
AVAX has begun retracing toward the next support level, offering a potential opportunity to enter a long spot trade.
Entry: Iβll ladder into a long spot trade in the $19.75 β $21.00 area of support.
TP1: $22.50 - $24.00 (14% - 22%)
TP2: $27.00 - $29.00 (37% - 47%)
Stop Loss: Just below $18.50
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Chart #3 - Chainlink (LINKUSDT) 12-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
LINK is currently trading at a resistance level, and I am awaiting a retracement to the next support zone to enter a long spot trade.
Entry: Iβll enter a long spot trade between $13.00 - $13.40
TP1: $15.00 - $16.00 (15% - 23%)
TP2: $17.00 - $18.00 (31% - 38%)
Stop Loss: Just below $12.00
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Chart #4 - XRP (XRPUSDT) 1-Day
Chartist: Sheldon
(For the chart screenshot, click here.)
XRP has begun retracing, and I plan to enter a long spot trade at the next support level.
Entry: Iβll ladder into a long spot trade between $2.00 β $2.07
TP1: $2.15 - $2.35 (8% - 18%)
TP2: $2.60 - $2.75 (30% - 38%)
Stop Loss: Just below $1.85
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Good Morning Crypto
Uncover the shocking truth about how todayβs U.S. GDP reveal could unleash chaos on crypto markets, threatening Bitcoin and altcoins, in Good Morning Crypto! π
Chart #5 - Bitcoin (BTCUSD) 1-Day
Chartist: Sheldon
(For the chart screenshot, click here.)
Bitcoin has been consolidating below the $96,000 resistance level for over a week, with no clear indication of whether the price will retrace or break through to test the next resistance around $105,000.
A rejection at the current level could lead to a decline toward the next support zone near $88,000, coinciding with the 0.382 Fibonacci retracement level.
The market is now in a holding pattern, awaiting a definitive directional move from Bitcoin.
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Chart #6 - Alphabet Inc. (GOOG) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
Alphabet Inc. (GOOG) is currently trading at a support level, presenting an opportunity for me to enter a long spot trade.
Entry: $158
TP1: $175 - $181 (11% - 15%)
TP2: $190 - $201 (20% - 27%)
Stop Loss: Just below $150
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Banterβs Take
Both the crypto and stock markets are currently trading at resistance levels, creating a waiting game for clearer directional signals.
Historically, May has been a challenging month for crypto, contributing to heightened trader apprehension as the new month begins.
The Bitcoin dominance chart continues its upward trend, indicating that Bitcoin remains a safer investment as liquidity drains from the broader altcoin market. Traders may want to exercise caution over the next few days until the market provides a definitive directional signal.
Stay safe my friends!
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