Overview
Chart #1 - S&P 500 (SPX) Daily
Chart #2 - Moonbeam (GLMRUSDT) Daily
Chart #3 - U.S. Dollar (DXY) Weekly
Chart #4 - Fantom (FTMUSDT) Daily
Chart #5 - Fear and Greed Index
Chart #1 - S&P 500 (SPX) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
The SPX is currently at 4,550, and overbought on the daily.
If it gets rejected here, there could be a retrace down to the next support at 4,430 - 4,460, or even the area of support below that at around 4,300 - 4,340.
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Chart #2 - Moonbeam (GLMRUSDT) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
GLMR is coming back down for what may be a bullish retest into its trend line.
I will be looking to build a long entry around $0.24. I will scale into the order right down towards the stop loss at $0.20.Β
This is a longer-term swing with a measured move up to $0.50.
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Chart #3 - U.S. Dollar (DXY) Weekly
Chartist: Kyle
(For the chart screenshot, click here.)
The DXY is coming into a support zone and, as you can see, is already showing signs of bouncing.Β
The expectation would be that the dollar will oscillate around the dashed line representing the mid-level of the rising channel.
This will likely cause a new range to simultaneously form in both the stock market and crypto.
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Chart #4 - Fantom (FTMUSDT) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
The $0.2950 level has been holding as support nicely.
FTM is completely oversold on the daily, so Iβm looking at entering a long trade here, with a stop loss just below the bottom of the range support of $0.28.
My first target is for the price to once again test the $0.37 - $0.40 area of resistance, which is the same area where it got rejected around two weeks ago.
Targets after that are $0.45 - $0.52, followed by the $0.60 level of resistance.
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Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 74 today, indicating Greed.
The highest the index has been over the past seven days is 74, and the lowest is 66.
Banterβs Take
Bitcoin has been up for seven weeks in a row. We are closer to the end of this move than the beginning, which means soon we will need to start expecting a proper pullback.
The pullback level to watch for strong support is $32,000.
Stay safe my friends!
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