benadshoef

Ethereum – Bullish Continuation is Likely •Ethereum has shown a lot of strength during the latest market correction. Not only relative to altcoins but relative to BTC as well (let me know if you want an ETH/BTC chart analysis). •Currently ETH consolidating in a triangle pattern. Volume was slowly dropping, and ETH kept banging on the trendline resistance and against the RSI resistance. Yesterday (June 6th), ETH broke above the trendline resistance, again, but hasn’t tested it as support. •My assessment based on the chart is that ETH is about to break to the upside. IF you are looking to take an ETH position, especially long-term, I suggest you look for an entry. IMHO, when (not if) it pops, next stop is 2750$ possibly higher. Trade Idea No. 1: •Entry: 1825-1830 (successful retest of trendline). •SL: 1770 (below previous daily low). •TP: 2750 (TP along the way but leave some for higher). •Watch out for the RSI line breakout, it will show if the move up has momentum. Trade Idea No.2: •If we don’t get a trendline retest, next resistance is 1930. •Entry: 1930 (after retest as support). •SL: 1820 •TP: 2750 (TP along the way but leave some for higher). Please understand, it is not easy to call for higher when everyone is calling for lower. I also thought it will dip further, but I must react to the reality as it develops. This is my opinion, based on what I see in the chart. I have to be honest with myself and with you regardless of public opinion. NFA What do you think? Please share in the comments. Best wishes to all.

Bitcoin Correction Almost Finished Present situation: •Currently (June 6th, 07:00 UTC), Bitcoin is consolidation in a narrow range, between the 25,500 – 25, 800 USD levels acting as support and resistance. Bitcoin’s RSI is oversold on the LTF. IMO, either we finish the correction today or we may get a relief rally because bitcoin is oversold on the LTF. Is the Correction Finished? •IMO, BTC’s correction is almost finished, maybe even finished. These are my reasons: 1. the 25,200 USD level is a combination of diagonal support (the trendline) and a horizontal support (green line). This double support level gives me confidence that price will hold. 2. RSI on the daily TF is almost oversold. Bitcoin reacts very well to the oversold level. If we examine previous reactions to the oversold level, it is usually followed by a rally. 3. The RSI is forming a falling wedge. I expect bitcoin to respect the RSI support line and bounce. 4. should Bitcoin wick below the 25,200 USD level, the 0.5 Fib level is at 24,650 and it should provide additional support. Can Bitcoin Dip Further? •I don’t know; nobody does. However, I do not see reason for bitcoin to go lower than the 0.618 fib level. The whole issue with the SEC is not new and I don’t think the SEC can cause more damage than it has already done. •The whole interest rate saga is almost over as well. Next week, on June 14th we have an interest rate decision. I expect some volatility before and after the FOMC and after that I think we are clear. My assumption is that the FED will not raise rates further. Can BTC take off from Here? •Possible. I think that it is the max pain scenario. Just imagine what would happen if BTC moves upward in price and leaves everyone on the sidelines. Trade Idea No. 1: •Entry: 25,800 (after it is tested as support) •SL: 25,500 •TP: 26,500, 27,200, 28,300 Trade Idea No. 2: •Entry: 25,200 (after it tested as support) •SL: 24,600 •TP: 40,000 (TP along the way and leave some to higher levels)/ NFA What do you think? Please share in the comments. Best wishes to all.

ADA Short Time Frame Long Setup ADA is looking bullish. Unlike most alts it did not completely lose its bullish structure even during the dips in the market. What I mean is that ADA is holding on to the upward trending line and doesn’t lose it for long on the higher TF. (Please read linked ideas) On the 4H TF, I see that the 0.38 USD level acts as local resistance and ADA tested it as support on the 1H TF. If it will also clear the 0.386 USD level, it will also be above the diagonal trendline which will give the bullish case more confidence. In addition, you can see an Inverse Head and Shoulders forming on the 4H TF which further supports the bullish case for ADA, at least short-term. I have two trading ideas for ADA, an aggressive trade, and a conservative trade: Aggressive Trade Idea: •Entry: 0.3793 •SL: 0.3728 •Target: 0.3864, 0.42, 0.46 •R: R is not great if we assume that ADA did not finish the correction. If it has, great entry for continuation to the upside. Risky. •If this trade is successful, I will not cash out completely because it may go higher. Conservative Trade Idea: •Entry: 0.3864 (after retest of trendline) •SL: 0.3793 •Target: 0.42, 0.46 •R: R 1:5 to first target. •Eventually I expect ADA to go a lot higher. NFA What do you think? Please share in the comments Best wishes to all.

BNB Short TF Long Setup •I am still expecting BNB to make a lower low. However, it looks as if a relief rally is in the cards for next week. We need to watch out for the ISM services PMI announcement tomorrow (June 5th) but otherwise I think we are short-term bullish. •Following BNB’s PA, you can see that the 308 USD horizontal level is meaningful. I mean that if it flips to support, we can expect a short-term bounce. •Furthermore, if BNB can get above the 308 USD level and flip it, it will also be above the 4H 20 & 50 EMAs which will reduce the bearish pressure. •If BNB reclaims the 316 USD level and the Diagonal line, I think we are off to the races. Please read my previous Idea about BNB for more context. My Trade Idea: •Entry: 308.6 (after retest). •SL: 306.4 (local resistance/support) •Target: 315 •R: R > 1:3 •If this trade is successful, I will not cash out completely because it may go higher. NFA What do you think? Please share in the comments Best wishes to all.

RSR – High Risk High Reward First, I would like to say that I don’t know anything about the fundamentals of this project. This is a chart analysis only. If you’re a fan of the project, don’t take it personally. RSR’s chart shows a lifetime downtrend. RSR pumped hard between October 2020 to April 2021 and since then it is in a downtrend. I can’t see a reversal sign on the chart. Since April 2022 RSR is forming a falling wedge. You can see on the chart that it is respecting the support and resistance lines very well. Hypothetically, should the bull market return and if RSR performs well, it could go back to its ATH. If it does, it’s almost a 50X. From my POV, it’s a complete Degen play but, I might try it. If anyone knows something about this project, please put it down in the comments. NFA Feedback will be appreciated. Best wishes to all.

Fetch AI (FET) Possible Double Bottom •Lately it seems that the AI narrative is gaining traction again. Fetch could be one of the crypto assets that stands to benefit from said hype. •Fetch has been in a downtrend since February 8th, and it looks like it is forming a double bottom with multiple bullish divergences. •FET’s double bottom neckline is at the 0.285 USD level. Breaching the neckline and testing it as support could be a long trigger. •Although FET’s chart in and on itself seems to support a bullish reversal it is advisable to keep an eye out on Bitcoin. Bitcoin faces resistance at the 28,000 – 28,500. If it can flip the 28K level to support, I think that Fetch is good to go. IMO, most alts, FET included, are not strong enough to disregard Bitcoin and just go up. •Keep an eye on the RSI. IF it breaks out of the channel, it could be an indication that there is momentum behind the move up. My Trade Idea: •Entry: 0.285 •SL: Previous candle low. If you have confidence in Fetch, you can give it more space. Personally, I am not 100% sure about this so I will keep the SL tight. •Targets: 0.31, 0.35, 0.385, 0.43 NFA Feedback will be appreciated. Best wishes to all.

AGIX Breakout from a Falling Wedge Since November 9th until February 8th, AGIX made an astonishing 1746% profit in three months (91 days). Since the high of February AGIX has been in a correction. The structure emerging out of that correction is a Falling Wedge which is a bullish reversal pattern. Also, although AGIX is in an overall correction, it hasn’t even touched the 0.382 Fib level (pulled from the low of November to high of February). Currently AGIX is trying to break out of the wedge to the upside, but it has the 0.33- 0.34 USD horizontal resistance level to cross before we can be sure the breakout is a success. If we look at the RSI on the daily chart, we can see that the RSI line already broke out of the falling wedge which is a point in favor of the immediate breakout scenario. However, the whole situation in the crypto market is very delicate ATM. I don’t think anyone knows for sure if we are done with this correction or if the chop is to continue. The way I see it there are two possible scenarios: Scenario 1: Successful Breakout AGIX breaks out of the falling wedge, tests it as support and continues to the upside. In this case my trade idea is: Entry: At the retest of the trendline approximately at: 0.305 USD SL: below the trendline at: 0.293 USD Target: 0.46 USD (at least) Scenario 2: Breakout Fails The whole market goes to crap, again, and AGIX with it. In this case I will be looking to long AGIX at the 0.21 USD level or at the support of the trendline, with a stoploss below the trendline. NFA. Feedback will be appreciated. Best wishes to all.

Fantom is at Support Will It Hold? Fantom had an amazing run between November 22nd until February 23rd . In 73 days Fantom’s price increased by almost 300%. However, In the last four months (116 days) FTM is in a downtrend. The chart structure emerging from this correction is of a Triangle. The question is will Fantom hold support on the Triangle’s diagonal support line, or will it break to the downside? The short answer: yes, probably. This is why: Support Levels: 1. The diagonal support line has held Fantom’s price in January and March. 2. If we examine the RSI, we can see a Falling Wedge pattern. A Falling wedge is a bullish reversal pattern. The diagonal support of this wedge has held Fantom’s price on several occasions (blue dots). 3. Regardless of pattern, The RSI level of Fantom is close to oversold. Past experience shows that FTM rejects the oversold level. 4. Should Fantom temporarily lose the diagonal support, the 0.5 Fib retracement (pulled from the low of November to high of February) is at 0.3187 and I expect it to hold. Admittedly, Fantom is at a stage that it lost some of the hype. Regardless, in the last bull market Fantom performed extremely well and I see no reason why it can’t do just as well in the future. Targets: I think FTM is good for a long-term hold. I expect FTM to exceed it’s previous ATH in the next bull market. I also think that short-term FTM provides a good R: R to risk a trade. My short-term targets for FTM are: 1. 0.41 USD (daily resistance). 2. 0.45 USD (diagonal resistance). 3. 0.55 USD (daily resistance). 4. 0.65 USD (daily resistance). Trade Idea: •Entry: 0.33 •SL: 0.3185 •Targets: As mentioned above. •R: R 1:7 for the first target NFA Feedback will be appreciated Best wishes to all.

ETH Broke the Range High – Now What? Current Status: Yesterday, May 27th, ETH broke the range high. The range high of roughly 1885 has been holding ETH back since May 10. The Question is what to do now? Basic Assumption: My basic premise is that the correction is over, and that ETH will not get to the range low in the near future. Of course, anything can happen, and the next few days will show if this correction is behind us or not. Fortunately, ETH’s chart is relatively simple and if the following conditions are met, I think we can long ETH. Long Conditions: 1. If ETH breaks through the diagonal resistance line and holds it as support. 2. If ETH clears the horizontal support of 1935 USD. 3. The move up has to be convincing, meaning with volume and range. •You should note that yesterday’s move left an imbalance on the chart (red box) and if your system allows you the risk, it can be an entry as well, assuming we get there. If this is the start of a mini bull market, I am expecting ETH to make it to at least 2700 USD, but we’ll cross that bridge when we get there. First, we need to break this local resistance. My trade Ideas: 1. Conservative Scenario Entry: 1930 SL: 1900 Target: 2700 USD (it is wise to take profit along the way) 2. For the Brave and Reckless Entry: 1850 (at the imbalance below the range high, if we get there) SL: 1795 Target: 2700 USD NFA Don’t be a Degen. Avoid high leverage. FA Feedback will be appreciated.

Bitcoin Breached Resistance – Should I Long? Bitcoin has been trading in a range since May 11th until Yesterday May 27th. The range low was at 25,800 USD and the Range High was at around 27,700 USD. Yesterday, May 27th, During the NY session, Bitcoin broke through the range high. The question we have to face is now, what do we do? Should we go long or short? IMO, the answer for now is to wait until the NY session for more clarity and these are my reasons: 1. Although Bitcoin broke through the range high during the NY session hours, the Asian session countered the move, there is no continuation to the upside. IMO, Asian traders are savvy. If this was a new uptrend they would buy. 2. The RSI on the lower timeframes is too high. The 4H RSI is at 73. The 1H RSI cooled off a bit to 63.79. I think that to support a next leg up bitcoin needs to consolidate a bit more. 3. The 27,700 level, the previous range high has not been tested as support. 4. Yesterday’s leg up filled the wick of May 10th but did not move substantially above that level. 5. The daily RSI shows a hidden bearish divergence. Meaning that the price made a LH while the momentum indicator did a HH. 6. The leg up left an imbalance on the chart. Experience shows that every green candle has to be balanced by a red candle or a wick. What do we need to see to go long? 1. A successful retest of the range high as support. 2. A wick or candle that balance some of the May 28th green candle. 3. RSI on the lower timeframes cooling off. 4. A convincing move, with volume above 28,300. Granted, you may not want to wait for 28,300 to go long, I won’t, but the three previous conditions are a must IMO. Possible Long Scenario: 1. Wait for the imbalance to be resolved on the lower timeframes. 2. Look for a convincing rejection of lower prices with volume. 3. Go long when price moves up. Possible Trade Setup: These are just possibilities none of us know what the NY session will bring. Consider this as contingency plans. Plan 1: Entry: 26,900. SL: 26,600. Targets: TP1: 28,300. TP2: 29,400 TP3: 30,500 Plan 2: Entry: 27,700 SL: 27,460 Targets: Same as Plan 1 Plan 3: Price breaks down completely. I will look for a long at the range low.