Yesterday, BTC traded with big swings, experiencing a 10% move in both directions due to significant market manipulation. BTC swing from 27k to 30k in a single day, which we haven’t seen in a long time. Whales sold BTC when it touched 30k, and bad news in the market about paying back BTC wasn’t helping.
On a daily basis, BTC is still looking bullish and moved up with the market after the significant swing. However, on a 4-hour time frame, it is still in a downtrend and needs to break it before the next move up. On a bigger time frame, there is a visible head and shoulders pattern in the making, which could potentially break BTC down further.
ETH followed BTC’s lead and dropped below 1800$, but it pushed back to the mid-range and is now trading around 1900$. There is still no power for ALTs to pump as BTC dominance is increasing.
XRP experienced a swing to a lower price range of 0.43$, but it still holds above 0.45$ with strong support. However, it is still in danger of another drop if bad news comes to the market.
LINK made a big drop to the 6$ range but managed to hold above 7$ and now holds significant support. It is still good for a long-term buy.
SOL dropped to 20$ but pushed back to 22$. It is now looking bullish if it holds above 22$, and buying volume returns.
DXY is holding at 101.5 and still consolidating before the next big leg up.
Crypto/stock daily news:
BANKS DOWN, BITTY UP
When we say Bitcoin’s on a rollercoaster…
It went from $30K 2 weeks ago → $27K earlier this week → $29K yesterday before falling to $27K within hours. ~$80M in BTC shorts were liquidated.
And now it’s back to $29K. Someone pass the vomit bag…
But let’s talk about why it rose to $29K yesterday in the first place.
It was all because of a little help from a friend. An unlikely friend.
First Republic Bank (FRB).
Who? This is the bank that:
- Has been struggling since March, when JP Morgan, BOA and others stepped in to bail it out for $30B following SVB’s collapse
- Reported in its earnings on Monday that deposits plummeted $100B last quarter and it will need to lay off 20%+ of their employees
- Is now expected to go into government receivership (way to avoid bankruptcy)
Its stock price crashed by ~50% Tuesday. And another 30% yesterday.
Why should I care? Bad news for banks usually means good news for Bitcoin.
Bitcoin jumped more than 8% in a few hours. And just like when SVB was going down, all eyes turned to Bitcoin once FRB started to crumble.
So why the dip back to $27K that same day? Who knows.
Six Flags ain’t got nothin’ on Bitcoin’s price.
A BITCOIN WHALE PAID $5 FOR A $10M TRANSFER
Listen y’all, sometimes we’ve gotta remember why we’re here.
It’s all about that financial inclusion & decentralization. You can see yourself out, cartoon jpegs…
Well, here’s a nice reminder of that: it cost just $5 for a BTC whale (big crypto wallet holders) to transfer 400 BTC in 1 instant transaction.
Yep, that’s right folks – they paid the cost of a Crunchwrap Supreme to move more than $10M.
So what? It should be this easy to move your own money!
We’re not saying crypto doesn’t have a high gas fee problem – nothin’ like paying ~$12 to send $36 of ETH. -_-
But with TradFi banks like Chase charging a flat ~$30 per transfer with $10K – $100K daily limits & days-long wait times…
I like my money transfers like I like my UberEats delivered: lightning fast. #notanad
A new memecoin called Floki Inu was listed on Binance Monday & jumped 50%+. It’s sitting at No. 3 after DOGE & SHIB. Memecoins gonna memecoin
Ethereum DEXs saw the highest number of traders since 2021 last week. All those noobs tryna get rich quick off memecoins
Binance pulled out of a $1B deal to buy bankrupt lender Voyager’s assets. First FTX tries to save Voyager, then FTX implodes, then Binance steps in, then a court vetoes that, now Binance exits. What a ride
The ex-head of digital assets of Signature (shut down crypto-friendly bank) is joining a trust. He’s bringing 3 others that worked on Signet, the real-time payments network, with him.
Market swinging hard and it is not good to take position before you got your TA work for you. Don’t try to catch every swing!
Copy trade GROW 0.1->10k$ since 18.03 we got +32% what is great for start.
And to celebrate this big start I GIVEAWAY FREE VIP group code:
Please join wining team!
You can check my trading web page with lots of trading information.
Be my guest!
Sentiment Is now BULLISH and real test for bulls are this week.
Not Financial Advice!
Good luck with trades!