Dear traders,
BTC hit 30k after +300 days of downtrend this is bullish if hold on weekly and 3 day chart above this
price.
Jake
TOP Trader
BTC:
BTC breaks into 30k after +300 days and makes pump before inflation data report. If BTC holds on 3
day and weekly above 30k that would be great for pre-bull run. If inflation come bad it will be a
liquidity grab and push back will be strong.
ETH:
ETH pushing up but still don’t have momentum and volume to break 2000$ range high. Good
position for small long if support holds.
XRP:
XRP still holds above 0.5$ and 0.53$ is now as resistance. Good for small longs with target 0.6$.
LINK:
LINK trying to break 7.4$ and still considerate und 8$. Good for spot buy for long term.
SOL:
SOL come in volume and break 22$ resistance. Now showing bullish structure for next leg up if 22$
holds.
DXY:
DXY holds 102 and need to hold it for next leg push up.
Crypto/stock daily news:
TROUBLE FOR BINANCE.US
It’s been a tough time for Binance recently. Over the last few weeks, the crypto exchange:
Got sued by the CFTC for allegedly offering unregistered crypto products and “willfully evading” U.S. laws
Lost its partnership with Paxos and the BUSD stablecoin they partnered on is being shut down
Well, now the Wall Street Journal is reporting that Binance’s U.S. crypto exchange (Binance.US) is struggling to find a new banking partner to handle customer deposits.
It was using Silvergate and Signature Bank until both banks collapsed last month. Since then, it’s been trying to find new partners.
According to the WSJ report, Binance.US tried teaming up with Cross River Bank and Customers Bancorp Inc but was rejected both times.
As a result, some USD deposit services like Apple Pay and Google Pay will be temporarily unavailable for users.
When it rains, it pours…
Why this matters: Binance.US is one of the top exchanges in the country.
In fact, it tripled its U.S. market share from 8% → 24% in Q1 this year.
Pretty crazy growth… but none of it matters if Binance.US can’t find banking partners to handle customer deposits and serve as fiat on-ramps/off-ramps.
Right now, the crypto exchange is storing its customers’ funds with a financial tech firm called Prime Trust. But this will only slow down the movement of funds. It needs an actual bank.
It’s also interesting to note that Binance.US wasn’t the only crypto firm affected by the Signature & Silvergate banking problems, but it’s one of the last ones to find a solution…
Coinbase has Cross River Bank. Kraken is starting its own bank. And most other crypto companies have found other banking partners.
Looks like Binance.US is that kid that gets picked last in dodgeball.
Final words:
BTC pumping and ALTs are waiting for next move. It is not wise to trade before inflation data come
out. So pick your coins and wait for news.
Copy trade GROW 0.1->10k$ since 18.03 we got +20% what is great for start.
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Good luck with trades!
Author
Jake
TOP Trader
