ππ JOE Ready to Print Profits! Bitcoin Priming for Next Breakout!
Chart #1 - TOTAL 1-Day Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
Things are looking nice for the TOTAL!
After increasing by almost 9% over the past week, the Total Crypto Market Cap is currently consolidating within the $1.1T - $1.13T resistance zone. If it can sustain this level, it could break the daily descending resistance line originating from the middle of last month.Β
And if so, it should then move to test the next resistance zone at $1.18T - $1.21T.
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Chart #2 - Trader Joe (JOEUSD) 1-Day Chart
Chartist: Kyle
(For the chart screenshot, click here.)
Trader Joe (JOE) is the DEX for AVAX, and AVAX's daily transactions have been steadily increasing over the past few days.Β
JOE has generated more in trading fees than both Bitcoin and Uniswap. And itβs no secret that increased activity and interest usually lead to upticks in price.Β
Currently, JOE is actively breaking out of a W-formation, a bullish pattern, which could potentially lead to targets of $0.51 and $0.68 if the trend continues.
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Chart #3 - Bitcoin (BTCUSD) 1-Day Chart
Chartist: Kyle
(For the chart screenshot, click here.)
Bitcoin is looking good on the daily chart as the price continues to hold above the pivot level at $27,113.Β
As long as it maintains this level, the probability that the next higher low will be formed increases.Β
Also, the 12 and 24 EMAs stand to potentially cross soon, which may lead to a breakout from the downward channel price action in the upcoming days.
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Chart #4 - SingularityNET (AGIXUSDT) 1-Day Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
AI is in full swing!
Over the past weekend, AGIX successfully broke through the daily descending resistance line that dates back to mid-March, and is currently trading in the $0.295 - $0.31 support zone.Β
Given the current buzz around AI, it's highly likely that AGIX surges significantly, reaching the $0.35 - $0.37 resistance zone, and then subsequently targeting $0.45 - $0.47.Β
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Chart #5 - Bitcoin Fear and Greed Index
The Bitcoin Fear and Greed Index is sitting at 51 today, Neutral.
The highest the index has been over the past seven days is 52, and the lowest is 48.
Banterβs Take
The DXY is increasing in strength, the S&P 500 is at resistance, and Bitcoin is holding its pivot levels, and consequently the usual correlation between these pairs is out of sync. Unfortunately, that means that trades are currently a little bit harder to gauge.
Stay safe my friends!
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