Dear traders,
BTC continue pump but Alts can’t keep up. Still bitcoin dominance is rising and alts will be on waiting
for next push up.
Jake
TOP Trader
BTC:
Bitcoin continue to pump and retest resistance at 29k. Now strong resistance is 28.600$ and if daily
close above that price we could see push to 31k fast. Also, we are at resistance so it is possible to be
push back before next leg up.
ETH:
ETH still pushing into resistance at 1820$ and still show no strength for push. Daily close above
1820$ will make it very bullish to 2000$.
XRP:
XRP still looking bullish and ready to pump into 0.6$. Showing great strength after long period of no
move.
LINK:
LINK hitting hart into resistance 7.4$ and trying to break it. Still possible to retest 7$ support before
next leg up.
SOL:
SOL make bounce above 20$ and now hold at 21$ as act of resistance. Don’t have many powers for
next leg up. Will follow market if continue bounce.
DXY:
DXY showing no strength and looking weak on smaller time frame and this is good for next market
push.
Crypto/stock daily news:
FAST NEWS
Do Kwon is being kept in Montenegro for 30 days. Authorities are holding him there on charges of
using forged travel documents. Looks like Kwon tried pulling a McLovin and used a fake ID…
The ex-Chair of the CFTC disagrees with the SEC and Gary Gensler. Christpher Giancarlo told
Coindesk that the agency’s claim that all cryptocurrencies except Bitcoin are securities is “not
correct.” The SEC and CFTC are the half-siblings that just never get along…
SBF was charged with attempting to bribe a Chinese government official with $40M. Now we can
add gov’t bribes to SBF’s list of lies, fraud, and terrible haircuts.
Disney is shutting down its metaverse arm, per The Wall Street Journal. Another one bites the dust…
Just 10.3% of Ethereum’s total supply is sitting on centralized exchanges
That’s the lowest amount of ETH on exchanges in 8 years (!!)
Why? People are learning two things:
1/ How to stake their ETH ahead of the Shanghai upgrade
2/ The importance of self-custody. You can’t lose your money if you don’t give it to someone who
can lose it. And remember kids: there’s no safe CEX in crypto.
So what? It’s a bullish sign when a digital asset’s total supply is low on exchanges. It means people
are in HODL mode.
When the total supply is high, that means people are in Sell, Sell, Sell mode. That’s why it’s a
bearish sign when the total supply on exchanges goes up.
Final words:
Market is trading in range 29-25k and will continue during week. So as always short resistance and
long support.
Copy trade GROW 0.1->10k$ 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
