Fed data part 2!

08.03.2023

Dear traders,
Market is expecting rate increase and prices are going down. Short resistance and long support.

Jake
TOP Trader

BTC:

BTC break uptrend lines and looking for next drop to 21.600$ support zone. Bad market news hitting
BTC strong and we could see a bigger drop to 20k soon.

ETH:

ETH didn’t move a lot consolidating at 1560$ range and still show no power for recovery. We could
see retest of support at 1460$ range and then bounce up. Trade with small leverage.

XRP:

XRP after good news about trial it push strongly into 0.4$ resistance and show finally strength. Still if
market show weakness it will follow back down.

LINK:

LINK now 7$ support act as resistance and retest of 6.45$ is just matter of time. Still not looking
good for next leg up. And big sell of is on.

SOL:

SOL drop like bomb under 20$ support and aiming 17$. We could see break of 17$ to and more push
down. Trade with small leverage. Who takes shorts congratulation big win.

DXY:

DXY break all resistance and show strength now 106 is next target.

Crypto/stock daily news:

KRAKEN IS OPENING A CRYPTO BANK
Everyone make room, there’s a new crypto bank coming soon – Kraken Bank. That’s right, the 3rd
largest crypto exchange is launching its own bank.
Kraken’s Chief Legal Officer went on The Scoop podcast yesterday to talk about it. Not only did he
give the inside scoop, but he added some m’fing sprinkles too.
Here’s everything you need to know:
Kraken Bank will be a Wyoming-based crypto bank
Kraken is the first ever crypto company to get an SPDI banking charter. Sounds like something you
get after a wild weekend in Vegas, but it stands for a Special Purpose Depository Institution (aka
they’ve got the Wyoming regulatory stamp of approval)
It’s “on track to launch very soon.” Services will first roll out to existing U.S. Kraken clients
The bank plans to offer digital assets custody, staking services, wire transfers, and mobile banking
apps to its customers
This is big because crypto just lost its biggest bank: Silvergate. Silvergate had all the biggest crypto
companies as clients and processed ~80% of all funds that flowed into and out of the crypto
markets.
Many were wondering how crypto would survive without Silvergate. Now, Kraken Bank is looking
to step up and fill the void.
This could be a genius move, but we all know there’s one thing that can take the Kraken down…
Davy Jones Gary Gensler.

The head of the SEC recently forced Kraken to shut down its staking service and pay $30M in fines.
Now we’ll have to wait and see if Kraken Bank gets unleashed or faces the same result.