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 $22, but it is still not showing enough strength for a bigger push up. It is still a good option for a small short position.
DXY is fighting and holding above 101, but it does not look good for the next push up.
Crypto/stock daily news:
REVISITING THE SHANGHAI UPGRADE
It’s been 3 weeks since Ethereum’s Shanghai Upgrade.
There’s a lot to unpack. And Jake will check it for you.
There are 3 takeaways:
1/ Only 2% of staked ETH has been withdrawn so far
Those who staked aren’t rushing to get their tokens back. And when you factor in that only 15% of Ether is staked, the amount withdrawn amounts to only ~0.3% of the total supply.
There is ~500K ETH in the withdrawal queue at this time, but that’s a small slice of the pie.
2/ People are collecting their staking rewards, not the ETH they deposited
Turns out people are happy keeping their holdings staked and earning a juicy ~5% yield. Since staking rewards do not earn a yield, people have been cashing these out to redeploy elsewhere.
3/ More ETH is being staked over time
More staking leads to a stronger network.
And with the direction this trend is headed in, Ethereum could be competing for the World’s Strongest Man Crypto before we know it.
While the upgrade may have slowed this trend down in the near term, all signs point to picking up again shortly.
It is Friday and there is possibility to get push back before weekend so trade with careful.
Copy trade GROW 0.1->10k$ 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!
Sentiment Is now BULLISH and real test for bulls are this week.
Not Financial Advice!
Good luck with trades!