FG Cheat Sheet 011322
Crypto HODLs on
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CHEAT SHEET
What We Are Watching
We further breakdown our case for these cryptos here : What We Are Watching
Are you buying these tokens? Did you read our guide on how to buy them on Sushiswap and Uniswap? Got questions? Leave them in the comments.
Crypto News
Looking to move? Arkansas will give you $10,000 in BTC to relocate there
Crypto CEO (CZ) becomes one of the world's richest billionaires
How Many People Own Bitcoin? 95 Blockchain Statistics (2022)
Bitcoin miner (probably named Chad) is lucky and earns 6.25 BTC by adding a block to the network by himself
Cash App integrates Bitcoin Lightning Network
Coinbase Buys Futures Exchange FairX In Crypto Derivatives Push
Ethereum 2.0 Deposit Contract Surpasses 9 Million ETH worth $30 Billion
“2022 Is All About Ethereum,” Says The Leader Of Ey’s Blockchain Unit
BTC Outlook
As we suggested on Tuesday the BTC price has climbed back above the bottom trendline. Expect the price to retest this trend line and if it holds move up to test the upper line over the coming weeks/months.
Possible Course of Action
HODL
Could open a long here excepting a retest of $50k
The Bulls’ Defense:
The price is currently holding the long term rising floor.
The Bears’ Prosecution:
Price broke down from month long consolidation (teal rectangle).
Multi-month downtrend could continue. $50k has been rejected multiple times. $40k would be next major support. Based on recent price action it’s possible $30k is wicked to again on some exchanges.
ETH Outlook
As we suggested on Tuesday, ETH’s price bounced perfectly off the bottom fibonacci level of this golden pocket. If price holds above these fib levels expect a retest of the orange trend line in the coming weeks/months.
Possible Course of Action
Do nothing (wait for consolidation)
Could look to open a long here betting on this golden pocket
We wouldn’t recommend shorting since the price has already fallen so much
The Bulls’ Defense:
EIP-1559 has burned $5,000,966,351 (1,481,934 ETH) so far. Supply constraints should continue to have a positive impact on price.
Bounce off Fib golden pocket
The Bears’ Prosecution:
Price fell from multi-month uptrend
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