Dear traders,
As I set in my blog before crypto was at resistance and push back strongly on day end. Now support need to hold for next leg up.
Jake
TOP Trader
BTC:
BTC if you don’t FOMO yesterday you are safe. Now BTC didn’t hold above 24k and now hitting resistance at 23.800$. Good for small short is at resistance line with tight stop loss. Only break above 24.400$ is safe for long and next leg up. Stay safe trade with small leverage.
ETH:
ETH try to push strong into long resistance line and push back to support line. Still consolidating at support at 1650$. Good for small long with tight stop loss.
XRP:
XRP make big push into resistance at 0.4$ and push back strongly at support line. Need still more power for next push up. Still big sell off XRP is still on.
LINK:
LINK push above 7$ and rejected by resistance and now consolidating at 7$. LINK is in consolidation for more then 300 days and push up will be great from this point.
SOL:
SOL hit strongly into resistance at 24$ and push back hardly into 22$. Need more push up for next leg up. Trade long only if daily stay above 24.2$.
DXY:
DXY make big push into 104.8 resistance line and showing uptrend.
SPX:
SPX show no strength and broke uptrend channel what could lead to next leg down and whole market with it!
Crypto/stock daily news:
Coming soon: a new Bitcoin Embassy. El Salvador is working with Texas to open a new Bitcoin Embassy in the U.S state. The goal? Aid “expansion of commercial and economic exchange projects.” Texas BBQ 🤝 El Salvador’s Pupusas.
Creator of Final Fantasy goes Web3. Square Enix is launching a new NFT-based game called Symbiogenesis. The gaming publisher has already launched successful games like Final Fantasy, Kingdom Hearts, and Dragon Quest.
Digital bonds hit the blockchain. Siemens, the third-largest publicly traded company in Germany, just issued its first digital bond worth ~$64M on the Polygon blockchain. Say hello to blockchain-based bonds.
Final words:
Market pump was stopped by resistance and push back. First rule of trade is to short resistance and long support. As easy it sounds it is really hard in practice. Stay safe!
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Sentiment Is now BULLISH and real test for bulls are this week.
Not Financial Advice!
Good luck with trades!
Author
Jake
TOP Trader
