In today‘s crypto watchlist the following coins & tokens are covered: LINK, BNX.
You can read my recent watchlists here or visit my blog at niklasschomaker.com.
A lot less action and volatility than in the last weeks.So the list will be a lot shorter of new pairs. The overall market has been grinding down slowly and it looks like Bitcoin might fall off a cliff soon. If you want to trade a direction, now it is time for the dark side to catch their meat.
Let‘s get into the watchlist.
LONG
LINK/USDT
Not an immediate Long, but keep this on watch. It has been going sideways for an eternity, but if it gets above the resistance at around $9 - $9.50 this can be a monstrous breakout. Got at least room to the $13ish area. So look for breaks of $9 - $9.50 for entry and a first goal of $13. Take a look at the areas below.
SHORT
BNX/USDT
This seems like a really good short to me. Most tradable assets do not do deep dives like this if they have good fundamental backings behind them.
Just to say so much, I don‘t know BNX fundamentals, but a 70% dive in two weeks is A LOT. So this has seen a good rise since then, but I am expecting another dive. See the daily below.
There are a lot of other tokens and coins, but they have been covered in more detail in the last watchlists.
For the overall state you have to look at BTC and Bitcoin is not looking great right now. I had a „conditional“ order sitting there for days myself. I got executed at $22340 for a Short position, right under support.
This looking quite good right now.
Bitcoin is having this flush and the drop potential is high, but will likely stop around $21.5k.
Keep this level in mind and watch it the coming days.
I hope this helps, have a nice day!
Niklas
This is not financial advice, it is for educational purposes only!