Dear traders,
GOLDEN 100 BLOG!!!
After Apple’s good results, the market made a bullish move at the opening and is now looking for a breakout. The question is whether this is a sign of market relief or if a bull trap is loading. Will the crypto market follow the stock market?
BTC is still struggling to break through the $29,900 resistance and needs to break it for a clear push up. On the 4-hour chart, BTC’s breakout is targeted at $32k, with a downtrend to $25k, and this swing will come soon.
ETH bounced from the $1,850 support and is currently hitting the $1,940 resistance. It needs to break it to reach $2k again. Traders need to be cautious as the market is still neutral.
XRP is still consolidating at the $0.46 support, and a bigger push is needed to break up to $0.5. The lower target is still $0.4, and the market is still neutral.
LINK is holding above $7 and is looking strong for the next bounce up to break the $7.4 resistance. It remains a good long-term buy.
SOL is holding above $22, but it is still not showing enough strength for a bigger push up. It is still a good option for a small short position.
DXY is fighting and holding above 101, but it does not look good for the next push up.
Crypto/stock daily news:
REVISITING THE SHANGHAI UPGRADE
It’s been 3 weeks since Ethereum’s Shanghai Upgrade.
There’s a lot to unpack. And Jake will check it for you.
There are 3 takeaways:
1/ Only 2% of staked ETH has been withdrawn so far
Those who staked aren’t rushing to get their tokens back. And when you factor in that only 15% of Ether is staked, the amount withdrawn amounts to only ~0.3% of the total supply.
There is ~500K ETH in the withdrawal queue at this time, but that’s a small slice of the pie.
2/ People are collecting their staking rewards, not the ETH they deposited
Turns out people are happy keeping their holdings staked and earning a juicy ~5% yield. Since staking rewards do not earn a yield, people have been cashing these out to redeploy elsewhere.
3/ More ETH is being staked over time
More staking leads to a stronger network.
And with the direction this trend is headed in, Ethereum could be competing for the World’s Strongest Man Crypto before we know it.
Pic:strong
While the upgrade may have slowed this trend down in the near term, all signs point to picking up again shortly.
Final words:
It is Friday and there is possibility to get push back before weekend so trade with careful.
Copy trade GROW 0.1->10k$ since 18.03 we got +37% what is great for start.
THIS IS 100 BLOG by Trader Jake!!!
It will be a giveaway in Telegram group so pleas check it!!
You can check my trading web page with lots of trading information.
Be my guest!
https://t.me/+rBI2IFMrLUhmOTJi
Sentiment Is now BULLISH and real test for bulls are this week.
Not Financial Advice!
Good luck with trades!
Author
Jake
TOP Trader
