Dear traders,
BTC has hit resistance, and the DXY has gained strength for the next push up. Currently, the ALTs
are holding well, and they are ready to move up after the push back.
Jake
TOP Trader
BTC:
BTC has broken the support level at $30,200 and is now trading in the mid-$29k range. The next
support level is at $28,800, and after that, it’s $27,800. The pushback is good for the market and
for longing support.
ETH:
ETH hit resistance at $2,140 and has pushed back to the mid-$2,040 range. It still looks good for
the next push up. The ALTs are holding after the BTC pushback, and they look good for the next leg
up if support holds.
XRP:
XRP is still holding the $0.5 support level, and if it holds, we could see the next push up over the
$0.54 resistance level. Don’t leverage yet, as a possible short squeeze could come.
LINK:
LINK has finally broken over $8 and is now holding. It looks great for the next leg up if support
holds. It’s good for a long-term spot buy.
SOL:
SOL is still holding above the $24.2 support level. If it holds, we could see a long target at the mid-
$30 range. It’s good for a spot long position in the longer term.
DXY:
DXY has made a double bottom pattern and is now pushing up to resistance. It needs to break
$102 for long continuation.
Crypto/stock daily news:
FTX SAYS IT COULD RELAUNCH IN 2024
I was having a good week – BTC & ETH were up, my taxes were done in time, I parallel parked the right way.
But then I heard there was news from FTX, and my palms got sweaty…
The new details? 2 things:
1. FTX might restart in mid-2024 *Shudder*
That’s right folks: the bankrupt exchange SBF ran before stealing all our money might come back.
But before you freak out, it won’t be easy. They’d need to raise lots of capital via:
Funds from third parties. That could be hard with the brand’s reputation…
Selling FTX assets
FTX is also considering letting creditors convert some of their trapped holdings into a stake in the reopened exchange.
2. FTX has recovered $7.3B of the ~$8B in assets it owes customers
How? Well, it didn’t really recover anything – the value of its recovered assets has just gone up alongside crypto prices (i.e. BTC’s ~80% rise this year.)
FTX’s recovery pool was worth $6.2B in November. Now, it’s worth $7.3B.
We don’t know yet if this means customers will get their money back.
One lawyer said it’s not clear whether they should use its capital to restart the exchange or… repay customers.
#Priorities
FAST NEWS:
More people searched “Bitcoin” on Google between April 4 – 11 than at any other time in the past.
We would too with Bitcoin surging to $30K+.
Blockchain firm Paxos is winding down its services in Canada because of tightening regulations.
Dydx (crypto exchange) also said it was leaving.
The London Stock Exchange is offering England’s first regulated platform for trading Bitcoin index futures and derivatives.
The Shiba Inu team is partially launching its metaverse by the end of 2023, developers said this week.
Final words:
BTC is push back and alts are holding at support. There is many long leverages on market, so there is possible squeeze before next leg up.
Copy trade GROW 0.1->10k$ since 18.03 we got +21% what is great for start.
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Not Financial Advice!
Good luck with trades,
JAKE
