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Overview
Chart #1 - Filecoin (FILUSDT) 8-Hour
Chart #2 - Realio (RIOUSDT) 4-Hour
Chart #3 - Ondo (ONDOUSDT) 12-Hour
Chart #4 - Algorand (ALGOUSDT) 8-Hour
Chart #5 - Fear and Greed Index
Chart #1 - Filecoin (FILUSDT) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
FIL has also retraced down to the upper range level of support at $8.10. If it holds, it will provide us with an entry for a long spot trade.
Entry: Enter a long spot trade at the current $8.10 level of support.
Take Profits (TP):
TP1: $10.00 - $10.50 (23% - 30%)
TP2: $11.20 - $11.75 (38% - 45%)
Stop Loss: Just below $7-70
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Chart #2 - Realio (RIOUSDT) 4-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
RWA is the flavor of the month, what with the BlackRock RWA fund recently being announced.
RIO is currently on support at the bottom of the range. Weโll look for a break of structure so we can enter a trade and ride it higher.
Weโll want to keep some dry powder though, in the chance that RIO heads towards the FVG seen on the chart.ย
Entries:
Entry1 (Support): $2
Entry 2 (FVG): $1.5
Take Profits (TP):
TP1:ย $3
TP2: $6
TP3: $10
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Chart #3 - Ondo (ONDOUSDT) 12-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
ONDO looks like it might have a parabolic move higher!
Itโs currently retesting the trend and what was resistance. We want to see a break from here to reclaim $0.86. After that, it should be a fast move to an all-time high.
The perfect entry would be on a fast move to $0.6 and $0.39.
We could DCA into a position here while keeping some dry powder for those lower levels if they come.ย
Entries:
Entry1: $0.8
Entry2: $0.6
Entry 3: $0.39
Take Profit (TP)
TP1: $1.4
TP2: $2.2
TP4: $4
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Chart #4 - Algorand (ALGOUSDT) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
ALGO has been consolidating at support over the last two weeks and is ideal for us to take a long!
Entry: Enter in the $0.2150 - $0.23 area of support.
Take Profit (TP)
TP1: $0.27 - $0.29 (26% - 35%)
TP2: $0.31 - $0.33 (44% - 53%)
Stop Loss: Just below $0.21
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Banterโs Take
Bitcoin is currently holding just above $69,000 with minimal volume, indicating a market awaiting direction. A break above $74,000 could trigger a short squeeze, liquidating $1.2 billion of shorts. But a drop below $64,000 might initiate a sell-off event, putting $2 billion in long positions at risk.
For now, weโll focus on long-term investments and only purchase assets weโre willing to hold for the long term. Weโll dollar-cost average and wait for Bitcoin to determine its direction before making significant moves.
Stay safe my friends!
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