BTC slow bleeding ALTs holding lines.

BTC slow bleeding ALTs holding lines.

Dear traders,

The market is slowly bleeding and dropping to support range, and small bounces are possible before the next leg down.

TOP Trader


BTC has dropped to $27,800 as predicted, and now we are expecting some bounce back to the $28,800 top range. BTC is still slowly bleeding and dropping in volume without showing strength.


ETH, as predicted, is holding above $1,920 in mid-range support. The next support is at the $1,850 range, and now there is no buy pressure on ETH to pump the price.


XRP is now holding above the support line at $0.46, and there is a possible push back up to $0.5, but a strong push is needed. At the moment, there is still no significant trading volume or buying pressure.


LINK is dropping to $7.4 support and needs to hold or a bigger drop is possible. Still, $9 is a strong resistance for this coin, and it is good for spot buy.


SOL is holding at $22 but showing no buy volume. The next support is at $20, which is the last hold before a big drop.


DXY is consolidating under 102 and preparing for the next push up.

Crypto/stock daily news:


1/ Bitcoin’s reserve-risk multiple turned positive
It’s the first time that’s happened since October 2021. Check out the other times the indicator has crossed 0:

So what is it? It compares:

1/ The incentive to sell: That rises as prices go up, since holders want to cash out for higher returns.

2/ The opportunity cost of selling: That refers to the returns holders may miss out on if they sell too early.

Basically, it lets us see how confident long-term holders are and compare that to the price of Bitcoin at any given time.

Why should we keep an eye on this? This thing’s more obscure than a random indie band, but it has a history of accurately predicting Bitcoin’s movements.

Here are the price rallies following the five previous crossovers:

2012 → +2,830%
2013 → +556%
2015 → +6,400%
2019 → +99%
2020 → +487%
This is good news, but another indicator suggests otherwise…

2/ ~77% of BTC’s entire supply is in the green

A total of 14.8M BTC is now back in a profit position, per Glassnode.

6.2M BTC of that turned green just this year. That’s about 32.3% of the total supply.

So what’s going on? BTC is in the ZONE. It’s up 80% since January and just passed $30K last week (although it’s dipped a bit…)

But here’s the catch: with so much BTC back in the green, investors may want to sell or spend their tokens and get those #gainz.

HODLers, look away.

3/ 3.087M ETH ($6.1B) have been burned since Ethereum’s EIP-1559 upgrade

The update rolled out in August 2021 and meant part of every Ethereum-based transaction would be burned.

But wait, why would you burn ETH?! Who hurt you…

Well, burning some of a token’s supply is actually good for the Ethereum network – that’s how it stays deflationary.

When you reduce ETH’s supply, it becomes more scarce. Scarcity = higher ETH prices

Final words:

Market slowly bleeding and now closing to crucial support lines for next push up or bigger drop.

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Sentiment Is now BULLISH and real test for bulls are this week.

Not Financial Advice!

Good luck with trades!


TOP Trader