Crypto losing momentum retest of support next!

03.04.2023

Dear traders,
BTC is pushed back from 29k resistance and still fighting for break up. I need very bullish news to
pump over resistance.

Jake
TOP Trader

BTC:

Bitcoin still cant broke 29k resistance and need very bullish news to pump over resistance. Building
short under 29k and taking profit actively is best option at moment. Still slowing in momentum with
small volume.

ETH:

ETH testing support at 1780$ and still need to hold above or bigger break down is possible. Daily
close above 1820$ will make it very bullish to 2000$.

XRP:

XRP slowing in push and consolidating over 0.5$ support. Need to hold it to build next leg up to 0.6$
range. Drop under 0.5$ will test support at 0.45$.

LINK:

LINK hold in range 7-7.4$ and still accumulating in range with still no big buy power too push up.
Good for spot buy for long term.

SOL:

SOL hold above 20$ support without strong volume to push up. Still possibility to retest 18$ support.

DXY:

DXY try to push 103 and push back. Consolidating for another push.

Crypto/stock daily news:

NUMBERS OF THE DAY
~1M – How many unique addresses now hold 1+ BTC
We’ve all heard of Bitcoin whales, the market-moving holders with at least 5,000 BTC. But did you
know there’s a whole hierarchy of crypto fish?
Octopuses, shrimp, crabs. Enough to rival a Long John Silver’s.

And today, we’re talking about the crabs. Those are the addresses that hold between 1 and 10 BTC
($28,500 to $285,000.) And there are now 1M crabs walkin’ around – a new milestone for Bitcoin.
So what’s behind the growth? Partly that whales are distributing Bitcoin at a faster rate at the
moment.
This is good in the long run. That means more Bitcoin will be distributed across a wider group of
investors. More BTC holders = more mass adoption
Even shrimps (the bottom of the bitcoin-holding food chain) are in accumulation mode. Glassnode
said shrimps now hold 6.6% of circulating supply; crabs hold 10.5%.
1 – The number of years left until Bitcoin’s next halving
We like halving an avocado as much as the next person. But halving Bitcoin’s issuance? That really
gets us going.
A halving does a few things:
Keeps Bitcoin’s inflation rate steady. The halving slows how often new Bitcoins are minted,
making it more scarce and valuable.
Reduces mining rewards by 50%. They’ll go from 6.25 BTC a block to 3.125 BTC. Miners really get
the short end of the stick with halvings…
Will likely raise Bitcoin’s price. With the new scarcity, demand may go up as investors anticipate a
slowed growth in supply.
That’s what’s happened in the years following past halvings. But there was also a lot going on at
the same time.

Like when Bitcoin’s price was ~$11 in November 2012, when a halving occurred. A year later, it
was ~$1,100. This was also when early adopters jumped onboard.
And in December 2017, a year after the 2016 halving when Bitcoin’s price was $650, it rose to
~$20K. That was one of Bitcoin’s infamous bull runs, and initial coin offerings were popping up
everywhere.
And then came 2020’s halving, when Bitcoin was at ~$9K. A year later, it hit its ATH of ~$69K.
*Sigh* …the good ole days…
That was the pandemic crypto boom. Everyone and their mother (Joe Shmoe, big companies,
investment funds, etc.) were getting in on the market.
So who knows what exactly will happen after the next halving in April 2024. But we’ll be there
talking you through it when that time comes.