Watchlist Update (Jun 22 2022)

Posted On Jun 22, 2022 |

This article summarizes the watchlist posted on Discord. As always: Read the charts, find the boxes and trade the boxes!

Bitcoin

So, in all honesty, not looking too exciting. We have two lower lows but no bull divs at all. We now are looking pretty range, bound and volume is declining. These are all negative signs for trading and would signal to not try and trade. So, for now I will do that and just keep watch.

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Ether

Exact same situation as Bitcoin. Declining volume, no bull divs and range bound. Notice we're also battling at the master long, term uptrend line. Ideally you want to see it hold, but I don't have too much faith that it will. Again, I think its best to just be sat on the sides here to be honest.

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FTT

Looking really positive in comparison to others. Rejected at the local red downtrend line, but it had a decent run up before hand. The $25.50 level is a local horizontal support so ideally I'd want to see this hold here. My feeling is we go lower but chart wise this does look much better than some others.

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Solana

So volume looks decent which is good and we broke out of the main downtrend. For me, $34 is a local support level and we need to hold this to potentially move higher. Just going to watch this but not looking to trade it right now.

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BNB

Looking really low and now starting to see declining volume. We did get 1 bull div but that has now been invalidated. I don't have too much confidence in this to be honest, but saying that I don't have many that I think I'd trade.

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Matic

Looking weaker than the rest, no bull divs and on the latest local move up we got a hidden bear div which usually are not good. I think Matic is one of the weaker plays and I definitely wouldn't go near it right now.

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Polkadot

Another coin that looks weak and has just got a hidden bear div. Overall not interested in playing, looking a bit weak.

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Chainlink

Pretty much the same story as Polkadot.

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@everyone Watchlist Summary. Morning everyone. So, the #watchlist has been updated. I am seeing that there are very few trading opportunities. When prices come down heavily you want to see bull divs or bear flags for instance. We're currently not getting those and we're seeing hidden bull divs develop at their earliest opportunity. Ideally this is not something you want to see and we'll likely see prices come lower, particularly as the last few days rally couldn't be sustained. For now I remain patient on opportunities and not looking to rush in to anything until better signals develop.

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Categories: Technicals

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