Crypto Live Trading | With Chart Hackers Team
Crypto Live Trading | With Chart Hackers Team
290 days agoCrypto Banter
Podcast1 hr 7 min
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Note: AI-generated summary based on third-party content. Not financial advice. Read more.
Quick Insights

Consider a long position on Aave (AAVE) between $295 - $300, as it shows strong bullish signals for a potential 6-8% gain with a stop loss just below $293.5. For a bearish play, Zcash (ZEC) presents a short-selling opportunity near $42-$44, with initial profit targets around the $39-$40 level. A higher-conviction buying opportunity for Solana (SOL) may appear on a pullback to the $190 - $192 support zone. Within the gaming sector, consider setting buy orders for Omni (OMNI) between $2.98 - $3.10 for a potential 20% swing trade. Similarly, a strong buying zone for Ethereum (ETH) is identified lower, in the $4,050 - $4,150 range.

Detailed Analysis

Bitcoin (BTC)

  • The hosts see the market as undecided, with no clear direction for Bitcoin on shorter timeframes. The sentiment is that a short-term move up could happen, but likely only after another quick dip down to shake out traders.
  • A quick dip into the $110,250 or $109,500 levels could present a short-term buying opportunity for a bounce.
  • On the higher timeframe (3-day chart), a reversal signal is getting closer, but a drop to the $105,300 level wouldn't be surprising before a more significant move up.

Takeaways

  • Bitcoin is in a choppy, tight range, making it difficult to predict the next major move.
  • For short-term traders: Look for a potential dip towards $109,500 as a possible entry for a quick bounce.
  • For longer-term investors: Be aware that a further drop to $105,300 is possible. A reversal signal on the 3-day chart in the coming days could indicate a stronger bottom is forming.

Ethereum (ETH)

  • Ethereum is facing massive resistance at the $4,500 level. The price was "completely wrecked" after hitting a key VWAP (Volume-Weighted Average Price) level and retracing its entire move up.
  • Bulls are attempting to hold support around $4,250.
  • A short-term "degen" (high-risk) play was identified for a bounce between $4,250 and $4,220.
  • The hosts believe a more significant and higher-conviction buying opportunity lies lower, in the $4,150 down to $4,050 range. This is described as a "high impact zone" for a long position.

Takeaways

  • Short-term: A risky bounce trade could be attempted off the $4,250 support level, but conviction is low.
  • Actionable Insight: A better strategy may be to wait for a potential drop into the $4,150 - $4,050 zone. An entry here would be for a more substantial bounce, as it aligns with key technical indicators on multiple timeframes.

Solana (SOL)

  • Similar to Ethereum, the short-term outlook is cautious. A significant bounce zone on the higher timeframe is identified at $188.
  • Two potential long entry zones were discussed for different risk appetites:
    • Short-term bounce: Look for an entry between $201 and $198. The expected bounce from here would be a modest 3-5%.
    • Stronger "banger" zone: A higher-conviction entry is lower, between $192 and $190. This area has multiple technical factors supporting it as a strong bounce zone.
  • Risk Factor: If SOL drops 6-7% to reach these lower targets, be aware that smaller tokens in the Solana ecosystem could fall even harder, potentially 10-12%.

Takeaways

  • Conservative approach: Wait for SOL to pull back to the $190 - $192 area to consider a long position. This is viewed as a much stronger support level.
  • Aggressive approach: A short-term trade could be taken between $201 - $198, but be prepared for only a small bounce and have a clear exit plan.

Aave (AAVE)

  • Sentiment: Bullish. The hosts are actively in a long position on AAVE.
  • Reasoning: AAVE is showing "double bullish divergence" on the 2-hour chart, a strong technical signal that often precedes a price reversal to the upside. It appears to be "ahead of the game" compared to other altcoins.
  • Entry Zone: The buy zone is between $300 and $295. The trade is active and can still be entered in this range.
  • Target: The goal is to ride the bounce up to the VWAP above, which could result in a 6-8% gain.
  • Stop Loss: A candle close below the recent lows around $293.5 would invalidate the trade idea.

Takeaways

  • AAVE is presenting a compelling long setup due to strong bullish technical signals.
  • Actionable Insight: A long position can be considered in the $295 - $300 range. The target is a 6-8% move up, with a stop loss set just below $293.5.

Zcash (ZEC)

  • Sentiment: Bearish. This was presented as a short-selling opportunity.
  • Reasoning: ZEC is approaching a heavy resistance area with multiple technical indicators suggesting a move down, including a bearish order block and key Fibonacci levels.
  • Entry Zone: The short entry was "at entry now" during the podcast (around $42-$43). One can add to the position on any further pumps towards $44.
  • Take Profit Targets:
    • First target: $39 - $40.
    • Major targets: $35 and $31.
  • Invalidation: If the price breaks above its current downward trendline, the short idea is no longer valid.

Takeaways

  • ZEC is considered a "safer short play" compared to other more volatile assets.
  • Actionable Insight: Consider a short position around the current price up to $44. Plan to take profits at $40, $35, and $31.

Gaming Sector (OMNI, ILV)

  • Investment Theme: The gaming sector could be poised for a move in the upcoming weeks. Several gaming tokens like Illuvium (ILV), Omni (OMNI), and Kava (KAVA) were showing signs of strength.
  • Omni (OMNI) was highlighted as a "slow cooker" trade.
    • Sentiment: Bullish.
    • Entry: Set limit buy orders between $3.10 and $2.98. This is a trade to enter with low leverage and let it develop over time.
    • Invalidation: A 4-hour or 8-hour candle close below $2.955.
    • Target: A potential 20% move to the upside, targeting the previous week's high.

Takeaways

  • Keep an eye on the gaming sector as a whole for potential outperformance.
  • OMNI offers a specific trade setup for those looking to get exposure to this theme. The strategy is to patiently buy in the $2.98 - $3.10 zone for a potential 20% swing trade.

Other Notable Opportunities

  • Manta (MANTA): A bullish swing trade idea. The entry zone is between $0.1717 and $0.1812, which would be an 8% drop from the current price. The target is a 20-30% move up. This is based on a strong daily bullish divergence signal.

  • Aero (AERO): A bullish bounce play. The strategy is to "ladder in" (buy in small increments) within the $1.00 - $1.11 zone for a potential 4-5% bounce. The trade is invalidated if it breaks below its rising trendline.

  • Useless (USELESS): A bearish short setup on this Bonk ecosystem coin. After a large pump, a short could be entered around $0.235 if bearish divergence is confirmed. This is a high-risk trade on a volatile, low-cap coin.

  • WIF (WIF): A bullish scalp trade. The entry was "now" (at the time of the podcast) as it bounced from the bottom of an ascending channel. The stop loss is at $79 with an initial target of $82.

  • Ethena (ENA): A bullish "degen" bounce play based on recent positive news. The preferred entry zone is lower, between $0.707 and $0.699.

  • Kaspa (KAS): A bullish setup after a big drop. A "banger long" entry could be found between $0.074 and $0.075, targeting a 10-14% move up.

  • M (M): A bearish, high-risk "dumb shit" trade. One of the hosts is shorting this token as it feels "very toppy" despite its strong uptrend. This is a counter-trend trade acknowledged as being extremely risky ("wrong or rich").

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Episode Description
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