Dear traders,
Crypto market drop because of bad news about Silvergate bank who is big crypto provider of stable coins.
Jake
TOP Trader
BTC:
BTC reject price from 24k resistance and drop to 22.300$ support and next support for watch is 21.600$. Still price could bounce but that is only good enter point for new short.
ETH:
ETH drop from 1650$ resistance after show no strength. Still looking bad and 1550$ need to hold for next push up.
XRP:
XRP break all support and touch 0.35$ target and bounce back to support. If not old we could see next push up to 0.35$. Good for taking better short possition. Still big sell off XRP is still on.
LINK:
LINK drop like bomb and now trade under 7$ what is bad and showing no strength for next leg up.
SOL:
SOL drop to 20$ support and now holds above. Slowly coming to my short target of 17$. Trade with small leverage.
DXY:
DXY still holds above 104.6 what is good for next leg up. DXY up market down.
Crypto/stock daily news:
CHART OF THE DAY: ETH ENERGY USE DOWN 99.98%
It’s been six months since Ethereum migrated from proof-of-work to proof-of-stake, which means we now have longer-term data on how the network’s energy usage has changed.
Spoiler alert: It has dropped a sh*t-ton. A whopping 99.98% decline.
The folks over at CCRI put together a report for ConsenSys (blockchain company founded by an Ethereum creator) that includes some fun nuggets on exactly how much greener the network has gotten.
Ethereum was eating up ~23 million megawatt hours per year back when miners were creating new blocks (almost as much as the entire country of Ireland). Now, it’s consuming just 2,600 megawatt hours per year with stakers validating each transaction instead.
And Ethereum’s CO2 emissions? Those dropped 99.99% from ~11M tons to just ~870. Not too shabby.
CCRI put the drop in energy use into perspective with another handy graph:
Looks like Ethereum is Mama Nature’s new fav.
Final words:
Whole crypto drop from bad news on market. And TA show it would go that way now 22-21k need to hold or we could see under 20k again. Bears are roaring.
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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
