Overview
Chart #1 - Fantom (FTMUSDT) 8-Hour
Chart #2 - Near (NEARUSDT) 2-Day
Chart #3 - Hedera (HBARUSDT) 12-Hour
Chart #4 - Chainlink (LINKUSDT) 8-Hour
BTC Pause Sparks Trade Interest: Potential Upside Retracement Ahead - With Deribit’s Anand
Chart #1 - Fantom (FTMUSDT) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
A lot of alts are currently on support, with prices oversold on medium timeframes.
That’s why I’m betting on a bounce soon. FTM is one that looks primed to pump guys!
Entry: Ladder into a long spot position in the current $0.80 - $0.86 area of support.
Take Profit (TP):
TP1: $1.00 - $1.04 (25% - 30%)
TP2: $1.15 - $1.23 (44% - 54%)
Stop Loss (SL): Just below $0.77
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Chart #2 - Near (NEARUSDT) 2-Day
Chartist: Kyle
(For the chart screenshot, click here.)
NEAR has bounced off its support at $6.430 and is looking strong so far!
To gain conviction, we would like to see it clearly surpass $6.80 and hold above that level.
At that point, we can begin to ladder in and aim for a target of up to $8.80. We’ll start with minimal leverage and increase it gradually after it surpasses crucial levels.
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Chart #3 - Hedera (HBARUSDT) 12-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
HBAR is currently at its support level at $0.10.
It’s held that level for the past few days, so it’s building structure.
Once it clears the next local resistance at $0.117, it's clear skies all the way to $0.14 and $0.19.
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Chart #4 - Chainlink (LINKUSDT) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
LINK is trading at support too, with its price also oversold on medium timeframes, just like FTM above.
This is the long trade I’m taking.
Entry: Ladder into a long spot trade in the current $17.30 - $18.00 area of support.
Take Profit (TP):
TP1: $20.00 - $21.00 (16% - 21%)
TP2: $22.00 - $23.00 (27% - 33%)
Stop Loss (SL): Just below $17.00
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BTC Pause Sparks Trade Interest: Potential Upside Retracement Ahead - With Deribit’s Anand
BTC hints pause on selling pressure at 4-week low trend line, hinting at possible retracement as BTC ETF inflows signal improvement, here’s a trading approach for your short-term outlook eyeing retracements in BTC prices.
Trade Structure
(OTM Call) Buy 1x BTC-6APR24-$68,500-C @ $260
(OTM Call) Sell 2x BTC-6APR24-$70,000-C @ $115
(OTM Call) Buy 1x BTC-6APR24-$71,000-C @ $65
Payouts
Maximum Profit: $1,405/BTC
Debit of Strategy: $95/BTC
If the Bitcoin price is at $70,000 when the options expire on April 6th, traders will achieve maximum profit from this strategy.
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Banter’s Take
Bitcoin remains above $65,000, hovering in this region, thereby offering the opportunity for altcoins to move.
It's a green day so far, with movements trending positively. As long as Bitcoin continues consolidating, it will restore confidence among traders. However, keep in mind that the storm is not over, and a drop to $60,000 is still a possibility, so caution is advised for day traders.
Stay safe my friends!
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