Dear traders,
Weekend hit new highs and liquidate late LONGS with retracement. US stock and crypto are at crucial point on breaking downtrend resistance and growing up from this point. Big week is in front of us.
Jake
TOP Trader
BTC:
BTC hit new highs at weekend and make push back to range 22.300$ what is looking now as support. If 22.300$ is broken we will revisit break up point of 21.500$ what is good short target and LONG start point for next leg up. Break of 23.500$ will grow BTC to 25.200$ target. Trade with cousin and small leverage this is also good spot trading place.
ETH:
ETH visit new high at weekend 1680$ and pull back to range 1600$ and aiming 1645$ as resistance for next grow. If not hold it will turn back to old target of support 1580$.
XRP:
XRP after breaking 0.4$ resistance aiming for 0.45$ and will pump with market if we make another leg down. Range 0.41$-0.42$ is good buying option if market don’t pull back under 0.4$.
LINK:
LINK broke 7$ resistance and hovering over 7$ and but showing no strength for next leg up. If it hold 7$ next long target is 7.7$. Trade with care.
SOL:
SOL make big swings with market and hit 27$ as old resistance. Looking good for next leg up and with buying lower prices on support. Small leverage trades only and spot is good for this coin.
DXY:
DXY show no strength and gives market strength to pump. Closing to critical supports and breaking that’s support will make market push higher.
Crypto/stock daily news:
THERE’S A NEW SPECIES OF CRYPTO IN AUSTRALIA
Crikey, mate!
There’s a new species in Australia. Don’t worry it’s not a giant, human-eating, monkey-spider (this time). *Phew*
It’s called AUDN – a new stablecoin that will be pegged to the value of the Australian dollar.
Here’s everything you need to know about the new stablecoin:
AUDN is fully backed 1-to-1 by the Australian dollar
One of the four biggest banks in Australia created it. The National Australia Bank (NAB) will also hold the physical money backing the new stablecoin in its banks
It will be launched on the Ethereum and Algorand blockchains in the middle of 2023. Customers will be able to settle transactions on both blockchains in real-time, using Australian dollars
It will also be used for carbon credit trading, repurchase agreements, and more
Why this matters: Sure, some people think stablecoins are as boring as watching paint dry (they always stay at $1, blah blah blah), but stablecoins have grown into a $138B market and play a big role.
Stablecoins give people the ability to use crypto, without all the volatility that comes with it. That being said, if we’re learned one thing: you can’t trust all stablecoins. *cough* UST *cough*
So we’ll leave you with some words from the great Steve Irwin:
“Crocodiles are easy. They try to kill and eat you. People Stablecoins are harder. Sometimes they pretend to be your friend first.”
Final words:
Market showing strength and it is at weekly resistance line. With move of US stock market more UP crypto will follow and make new push up. I resistance hold strong we could see retest of support.
BIG week is upon us!!
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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
