Dear traders,
After a hard day with FED meeting where bulls and bears receive hits after rising interest rate for 50 base points what was expected market reacted bearish and both SPX500 and Crypto get rejected from bullish movement.
Now we can continue trading in a safer mode.
Jake
TOP Trader
BTC:
On the daily chart BTC was rejected by uptrend resistance line. FED come bearish and hit upline od channel in price of 18.400$ with retrace to the channel. BTC is still in Bear flag and still can go up but it lost its strength for more up movements. Today we can expect test of downtrend line in range 17.200-17.400$.
ETH:
Make bullish breakout on symmetrical triangle pattern and hit 1350$ resistance and retest it at 1320$. ETH get again rejected from 1350$ and 1320$ and fall under 1300$ what is new resistance. Good for small SHORTS and copy trade StormRider.
XRP:
Try to breakout bullish but stay in pattern range. Wait for clear invalidation for long or short position. Still in downtrend pattern. If it breaks under 0.38$ in daily chart it is good for new shorts.
LINK:
Get rejected from downtrend line and going full bearish. Next support lines are 6.46$ and 6.3$ good for small short to these lines.
Crypto/stock daily news:
Elon Musk sold $3.38 billion in $TSLA shares.
He knows where market is going and he try to preserve his gains. When Elon sell market fall be careful!!
Final words:
After 22 days of mini bull run on crypto market we hit hard stop with FED interest rates hikes. In all market please be safe and don’t take new longs wait to coins get they support and show uptrend.
WE ARE STILL IN BEAR MARKET don’t be fooled by small scam pumps stay at your TA and don’t trade by feelings!!!
Good luck with trades!
Author
Jake
TOP Trader
