Dear traders,
After good market results DXY dump but turn back and make market dump and take lows. Still in correction and sideway is expected.
BTC:
BTC touch 21.600$ to grab stop loss and liquidity and broke bear flag to 20.300$ price range. After that it consolidate at price 20.800$. Market show cooling down from pump and sideways is expected during this week. Only broke of 19.800$ will turn it very bearish.
ETH:
ETH try to break 1600$ range and turn back to 1500$ after turn back to resistance 1530$. More consolidation and moves around 1530$ range is expected.
XRP:
XRP holding still in channel after try of turning down price it come back fast in channel. Still no clear price action.
LINK:
LINK show strength and after dump still hold at strong support of 6.45$. Only break of of support and hold under will make it bearish.
SOL:
Sol break pattern and hold 20.8$ as support and new low in support range is expected.
DXY:
After it take new lows and more drop is expected DXY make fake out and come back to channel and turn market down in price and show strength after strong bounce.
Crypto/stock daily news:
THE MERGE MIGHT BE WORKING
Ethereum might have indeed ended up a mean, green, fightin’ machine.
The coin’s CO2 emissions dropped from 21.95m tons to 8,824 tons in 1 year
It’s all thanks to The Merge, a September upgrade to the network that was expected to make it easier on the environment
It now uses a proof-of-stake model, not proof-of-work (what Bitcoin uses)
Crypto’s energy consumption is every conservationist’s fav punching bag.
It takes a lot of power to create virtual coins.
But there may be some common ground with The Merge.
New stablecoin coming soon? Russia & Iran are reportedly working on launching a stablecoin backed by gold. The goal is to create a “token for the Persian Gulf region” and serve as a way to pay for foreign trade. The stablecoin war is getting hotter than eating jalapenos in the desert.
A series of unfortunate events. A wealthy NY family was fooled by Enron, Madoff scheme, and now FTX. The Belfer family has reportedly lost billions across all 3 collapses. Get fooled once, shame on them. Get fooled twice, shame on you. Get fooled three times, just quit.
A new face in Web3. The luxury brand, Yves Saint Laurent, has filed web3 trademarks that cover NFTs, virtual makeup, cosmetics, skincare, and more.
IRL or virtual? South Korea is launching a virtual replica of their capital, Seoul, in the metaverse. It’s a new initiative to expand public services and will let people access tax offices, youth counselling, and more.
Final words:
Market rejected from strong resistance and consolidate before new try to broke resistance and pump more. Only bullish if 21.500$ an over holds.
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Im still bearish in structure only clear hit and hold above 21500$ on btc will show me bullish bias for next realise rally on crypto!!!
Not Financial Advice!
Good luck with trades!
Author
Jake
TOP Trader
