Overview
Chart #1 - Polygon (MATICUSDT) 12-Hour
Chart #2 - Injective (INJUSDT) 2-Day
Chart #3 - Chainlink (LINKUSD) 2-Day
Chart #4 - Polkadot (DOTUSDT) 12-Hour
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Chart #1 - Polygon (MATICUSDT) 12-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
Hereβs a trade on MATIC, since it is sitting at support.
You can take the trade on Bybit.
Entry: Ladder into a long spot trade in the current $0.85 - $0.91 area of support.
Take Profit (TP):
TP1: $1.07 - $1.15 (26% - 35%)
TP2: $1.25 - $1.30 (47% - 53%)
Stop Loss: Just below $0.80
Chart #2 - Injective (INJUSDT) 2-Day
Chartist: Kyle
(For the chart screenshot, click here.)
Markets seem to be cooling off. So letβs look to the tokens we plan to hold for the next 6 to 12 months.
Like INJ!
Any weakness INJ shows by moving into the $22 zone seen in the chart is a buy-the-dip opportunity. Weβll play the deviation and add once price reclaims the range.Β
Entry 1: $21 & DCA at around $15
Entry 2: $31
Take Profit (TP):
TP1: $50
TP2: $80
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Chart #3 - Chainlink (LINKUSD) 2-Day
Chartist: Kyle
(For the chart screenshot, click here.)
LINK is retesting what was resistance as support, but bleeding off of a lower high at the same time.
The play here is to mark out our support zones and watch price as it approaches each one.
$8.5 would be an extreme buying opportunity in the chance of a liquidation event happening. But the most likely bullish buying opportunities are at $11 and $14.Β
Long Term Take Profit (TP) Levels:
$18
$30
$50
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Chart #4 - Polkadot (DOTUSDT) 12-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
DOT is flirting with support. Itβs a great area to take a long trade.
Entry: Weβll ladder into a long spot trade in the current $8.00 - $8.50 area of support.
Take Profit (TP):
TP1: $9.50 - $10.00 (19% - 25%)
TP2: $11.30 - $12.00 (41% - 50%)
Stop Loss: Just below $7.80
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Banterβs Take
BTC remains in a ranging market, setting higher lows and equal highs. Despite yesterday's hotter-than-expected CPI data, BTC price held strong, with any sell-off pressure quickly absorbed by buyers. This resilience raises the possibility of a short squeeze as the price pushes above $74,000.
Expect the market to continue ranging leading up to the BTC halving a week from now. I'll treat any lows as buying opportunities, as a rising tide lifts all ships. Prepare for both scenarios: taking advantage of a potential short squeeze, or buying the dip between $59,000 - $64,000 while maintaining a bullish outlook.
Stay safe my friends!
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