FG Cheat Sheet 093021

Bitcoin rises 6% over night.

Today is the final day to claim your FGNEWS Tokens and receive a chance to win this NFT!

Our subscription is $8.5/month. That’s one latte and a pastry. Send a public ETH address after subscribing to receive 40 FGNEWS ($11) tokens.

There are about 6500 FGNEWS tokens left to be claimed worth $1850 USD at time of writing. These tokens will be burnt (destroyed) on October 31st if unclaimed by October 1st.

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CHEAT SHEET

Red = Bearish, Green = Bullish, Brown = Neutral since the date given in “Bias Since”. Support levels are where the price could bounce when falling and Resistance levels are where the price could stop if rising. The black outlined boxes show the price at the time of cheat sheet creation. You can find more details on how to read the cheat sheet here.

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What We Are Watching

We further breakdown our case for these cryptos here : What We Are Watching

Red = Bearish, Green = Bullish, Brown = Neutral since the date given in “Bias Since”. Support levels are where the price could bounce when falling and Resistance levels are where the price could stop if rising. The black outlined boxes show the price at the time of cheat sheet creation. You can find more details on how to read the cheat sheet here.

The risk/reward on MATIC is looking good. If the supports hold that’s a 10-30% gain before hitting the resistance levels.

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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.

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Crypto News

• Gas in El Salvador will now be $0.20 cheaper if bought with Bitcoin.

• Why China’s latest Crypto ban is bullish for DeFi.

• Missouri Mayor To Give $1,000 In Bitcoin To Every Household

• Famous Aussie Car is sold for Bitcoin

• Bitcoin’s Lightning Network Capacity reaches new all time high.

• Polygon co-found claims Ethereum will replace Bitcoin as the leading crypto network.

• Twitter Demos new NFT integration feature.

• Visa Unveils Proposed Interoperability Platform for Stablecoins, CBDCs

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Bitcoin Outlook

Bitcoin’s price continues to trade within this falling wedge pattern. Within side the larger multi-month pattern you can see Bitcoin is forming another smaller wedge/triangle. The price will most likely follow this pattern until it reaches the top side of the larger falling wedge pattern. This means Bitcoin is likely to trade size ways for the coming week.

Possible Course of Action

• Stay long if you are comfortable with the volatility of this trading range.

• Buy orders at $36k-$38k

• Open a long on a break out to the upside of the wedge pattern.

The Bulls’ Defense:

• Falling wedge has a bullish bias

• $40k Big Round Number now acting as support

The Bears’ Prosecution:

• Price is in short term declining trend

• Global economic uncertainty

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ETH OUTLOOK

ETH has continued to trade correlated to Bitcoin since its decline from $4000k. So, go read the Bitcoin section.

Possible Course of Action

• Stay long if you are comfortable with the volatility of this trading range.

• Buy orders at $2100-$2300

• Open a long on a break out to the upside.

The Bulls’ Defense:

• EIP-1559 has burned $1,181,334,683 (398,918 ETH) so far. Supply constraints should continue to have a positive impact on price.

• Low volume on current declining trend.

The Bears’ Prosecution:

• Stall out at $4000 due to Big Round Number could have formed a macro double top.

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NFTs have been going wild and it’s a lot to keep up with. If you’d like to follow along more closely with the NFT ecosystem we recommend you check out Morning Drop, “Your weekly dose of what’s minting, popping, and brewing”.

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