ππ Is the market about to explode? Theta looking bullish!
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Chart #1 - Theta Network (THETAUSDT) 1-Day Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
THETA was in a downtrend from May 2021 to the end of 2022, moving from over $16 to around $0.70. But over the past week, it has started showing bullish intent, and the price could be setting itself up to test higher levels of resistance.
The price is currently testing the minor resistance level at $1.25. If it breaks through, it could test the major resistance area between $1.30 - $1.34. And a break above that area could result in price testing the next major resistance around $1.60 - $1.70.Β
If the market drops from here, taking THETA down with it, the next major area of support is at $1.10 and below that at $1.00. I am watching closely for a break of $1.25, which is when I will take up a position.
Check our Crypto Banter Discord here for updates!
Follow me on Twitter for urgent updates on my trading progress!
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Chart #2 - Cosmos Hub (ATOMUSDT) 4-Hour Chart
Chartist: Kyle
(For the chart screenshot, click here.)
ATOM is currently holding all its higher lows, and overhead resistance is coming in at $15. But that resistance will be minor if bitcoin breaks out above $25,500.Β
If bitcoin continues upwards, then a $20 ATOM is absolutely feasible in the short term.
All EMAs are postured perfectly and primed for more upside on ATOM, with the 50 above the 100 above the 200. And their spread increase has only just begun.
Check our Crypto Banter Discord here for updates!
Make sure to follow me on Twitter, where I will post updates on my trades as they unfold!
Claim your Bitget sign-up bonuses here (details below).
Chart #3 - Hooked Protocol (HOOKUSDT) 1-Hour Chart
Chartist: Kyle
(For the chart screenshot, click here.)
Here's a possible long trade scenario for us, but we will NOT over position ourselves as this is a low-cap altcoin. And they can easily be moved by big players in the space.
HOOK has reclaimed its range low at $2.62 with a bullish hammer candle. That suggests that it is likely to move to the range high around $3.01.
We will act with extreme caution on this one, as it could get highly volatile with no prior notice whatsoever.
Check our Crypto Banter Discord here for updates!
Make sure to follow me on Twitter, where I will post updates on my trades as they unfold!
Claim your Bitget sign-up bonuses here (details below).
Chart #4 - TOTAL2 1-Day Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
The TOTAL2 is at its $600B resistance level, which it has tested three times over the last five months.
If it breaks above $600B, the next major resistance is $680B. A drop from here, though, could take the TOTAL2 down to the next areas of support, around $560B and $520B.Β
I feel there is a chance cash flows into the altcoins this week.
Check our Crypto Banter Discord here for updates!
Follow me on Twitter to get all the updates on my personal trading progress!
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 58 today, indicating Greed.
The highest the index has been over the past seven days is 62, and the lowest is 50.
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Overall Market Sentiment (Banterβs Take)
The market looks ripe to explode, but when FOMO is at its highest (and it's pretty high right now) is when market participants should be most careful, as that is when big traps occur.Β
Though it seems likely that more upside is coming, invalidation will occur if bitcoin goes under $21,500.
Stay safe my friends!
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