ππ Alt season on the way? SOL trade imminent!
Bitget winner - 4555524406
Chart #1 - Solana (SOLUSDT) 12-Hour Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
SOL, currently trading at $21.30, could present a nice trade for us in the next few days.Β
If it retraces to $20.00 (support), entering 50% of my position with a stop loss just below $20.00 is an option. The other option would be to enter 50% at the break of the daily descending resistance line, at around $21.50 - $22.00. I would enter the balance on the retest of that line with my stop loss just below the trend line.
My first target would be at the next resistance area at $24 - $25.
π£πΏπΆπΊπ² π«ππ§
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Chart #2 - Bitcoin (BTCUSDT) 4-Hour Chart
Chartist: Kyle
(For the chart screenshot, click here.)
Bitcoin has rallied this morning but is still below its nearby interior resistance at $28,525.Β
A breakout above that level and a further breakout above $28,825 would add more confidence to price rallying and hint that a new wave upwards is in progress. If this plays out, my target is $31,500. And over the next few weeks, it could even reach $34,492.50 - $35,319.50.
However, if the price breaks to the downside, targets are approximately $26,745, followed by $25,761, and $25,000.
π£πΏπΆπΊπ² π«ππ§
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Chart #3 - Ethereum (ETHUSDT) 4-Hour Chart
Chartist: Kyle
(For the chart screenshot, click here.)
The recent impulsive breakout above the white horizontal resistance line on the chart, at $1,850, indicates a move to the upside is imminent for ETH. So let's see if we can get the follow-through that we want.Β
The wave upward has a minimum expected target of $2,455.50.Β
The move will only be invalidated if the price breaks below $1,625. The probability of a swing long playing out nicely over the next few weeks is looking likely.
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Chart #4 - TOTAL 8-Hour Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
The TOTAL is currently at $1.17T - a significant resistance level that has been tested three times over the last two weeks.Β
That resistance extends up to $1.2T, but if the TOTAL can break through the entire zone, the next resistance is at $1.3T.Β
A rejection would take it down to its daily support line at around $1.125T, but the next crucial support lies between $1.08T - $1.115T.
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Chart #5 - Bitcoin Fear and Greed Index
The Bitcoin Fear and Greed Index is sitting at 62 today, indicating Greed.
The highest the index has been over the past seven days is 63, and the lowest is 60.
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The course includes weekly live workshops hosted by Sheldon, Mama Sniper, and special guests, plus daily live trading and market analysis sessions with our team of Sniper Mentors!
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Banterβs Take
Many are beginning to celebrate the "imminent" altseason, but it's wise to not count your chickens before they hatch. Although things are looking promising, we still need to see some sort of break of structure for altcoins.Β
BTC is at an important resistance level right now and could easily turn back down. That is not to say we should not play the long side, it just means we could do so with caution and with a reduced position size.
Stay safe my friends!
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