Dear traders,
Market start dumping and holds at support. On bigger time frame market is bullish but push back is expected.
Jake
TOP Trader
BTC:
BTC drop down and hit support at 26.500$ and now trading at 27.000$. Looking bearish with price target of 25k what is support on smaller time frame.
ETH:
ETH break down under 1720$ what is support. At moment bounce back but there is no strength for next push up. Looking bearish at moment with target price 1550$ for short.
XRP:
XRP hitting 0.5$ what was long price target. Now small push back is expected before next target 0.55$. Looking strong at moment good to long at retest of break up.
LINK:
LINK break down under 7$ resistance and now looking good for short continuation. Only back above 7$ could bring price more up. Good spot buy on long term.
SOL:
SOL loss 20$ support and now targeting 18.6$ as next short price. Still looking weak for next push up.
DXY:
DXY loss 103 support and consolidating for next push up.
Crypto/stock daily news:
BITCOIN’S HASH RATE HITS A NEW ALL-TIME HIGH
Hashrate is a way to measure how much computing power is needed to mine Bitcoin. And recently it’s been breaking more records than LeBron James.
Bitcoin’s hashrate has been on the rise for the last 3 months and over the weekend, it hit a new all-time high of 400 EH/S.
Why this matters: Hashrate is used to measure things like how active Bitcoin miners are and how secure the network is.
An increase in hashrate means 2 things:
1/ Miners are getting back in the game. 2022 was a sh*tty year for miners – many went bankrupt or turned their machines off during the crypto winter.
2023 has been a comeback year – Bitcoin is up over 50% and miners are turning their machines back on as it’s becoming profitable again.
It shows miners are confident in Bitcoin in the near term. And it also means…
2/ Bitcoin’s network is getting more secure. Miners all compete to solve hard, complex problems. The first ones to get them correct win & get to mine that specific block on the network.
It’s kinda like pop quiz day in math class. But the higher the hashrate, the harder the problems (i.e. it’s like going from geometry and shapes → solving the quadratic formula.)
This means the higher the hash rate is, the more difficult and costly it is for someone to attack the network.
Both are good signs for Bitcoin’s growth and we’ll be keeping a close eye on the hashrates to see if the trend continues.
Final words:
Momentum on market is slowing down and big moves are expected this week. Expect more dump and prepare your positions.
Copy trade GROW 0.1->10k$ in 10 days we got +9% what 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
