Dear traders,
BTC still at resistance but ALTs are pushing hard resistance and making new highs.
Jake
TOP Trader
BTC:
Bitcoin consolidating under 29k and getting rejected by resistance. Still slowing in momentum with
small volume.
ETH:
ETH breaks 1820$ resistance and hold above and now pushing into resistance and long target of
2020$. Creates momentum for alts.
XRP:
XRP holds above 0.5$ and gain momentum to continue push if ETH leads up. Still looking bullish.
LINK:
LINK need to hold above 7.4$ for long push up. Still consolidating under 8$ and waiting for mega
push.Good for spot buy for long term.
SOL:
SOL trade around 21$ and still consolidating before next move. Still no volume for push-up.
DXY:
DXY drop support 101.9 and now looking for new low if not hold.
Crypto/stock daily news:
THE STABLECOIN WAR HEATS UP
Ladies & gents, the Stablecoin War is heating up again. Over the years many stablecoins have emerged, but most have failed. (Turns out they’re just as stable as the Milk Man after his third cup of coffee.)
But there are 2 stablecoins that have survived: USDT & USDC. It’s been crypto’s version of King Kong v Godzilla.
Well, over the last 3 weeks:
• USDT has seen $9B in inflows and now makes up over 60% of the stablecoin market
• USDC has seen $10B in outflows and its market cap has plummeted 23%
So what’s going on? USDC’s troubles began when SVB was on the brink of collapsing and everyone found out it had $3B+ stuck in the bank (~8% of its total backing).
It caused a panic within the crypto community and USDC depegged from $1 –> $0.90. Suddenly, its future was more unpredictable than the first round of March Madness.
Why does this matter? USDT has (ironically) become the stablecoin most people trust.
The prior concerns around USDT have been centered around the lack of transparency into its reserves and the fact that it is not registered in the U.S.
On the other hand, USDC was praised for its transparency with asset holdings and backing from Circle – one of the better-known companies in the space. It seems the cost of doing crypto business within the States has begun to outweigh the risks of operating elsewhere.
How the tables have turned…
We’ll be keeping a close eye on the Stablecoin Wars and if USDC can make a comeback.
Final words:
ALTs are pumping and the best for a long is to find a sleeping altcoin that could push hard up into resistance.
Copy trade GROW 0.1->10k$ in MARCH we got +15% which is great for start.
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Sentiment Is now BULLISH and real test for bulls are this week.
Not Financial Advice!
Good luck with trades!
Author
Jake
TOP Trader
