Dear traders,
BTC is at resistance and break above it will lounch it to 25k. Whole market is at breaking point.
Jake
TOP Trader
BTC:
BTC make push above 23.400$ and for continuation need to hold above 23.800$ what is crucial resistance for now. Any bigger rejection will bring BTC price to 21-22k region.
ETH:
ETH pushing into 1650$ resistance but show no strength for push for now. Only good news on market could break resistance line. Trade with small leverage.
XRP:
XRP still at 0.38$ resistance and only clear break above and hold could bring price in 0.4$ range. If resistance holds we could see another test of support at 0.365$. Still big sell off XRP is still on.
LINK:
LINK show some strength and push 7.4$ and now aiming for next leg up to 7.7$ resistance. If resistance stay strong we could see 7$ support retest.
SOL:
SOL holds 22$ as support but still need bigger push to break 23$. Still there is low buy volume and need big push for break up. Trade with small leverage.
DXY:
DXY show slowing and weakness for next leg up. Need to reclaim 104.6 for next leg up.
Crypto/stock daily news:
GENSLER’S AT IT AGAIN
It’s official: the SEC views every crypto project except Bitcoin as a security. Cue the hysteria.
Everyone’s favorite chairman, Gary Gensler, told NY Mag that cryptos “are securities because there’s a group in the middle and the public is anticipating profits based on that group.”
That’s how the Feds in part define a security: if investors’ returns depend on what other people do.
This is the first time the agency/Gensler flat-out called cryptos securities, though they’ve been alluding to as much for a while now. People are mad because 1) they think the SEC has it OUT for the space and is unjustly trying to kill it dead and 2) if crypto projects are forced to register their products with the SEC, that’d cost them more money and could hurt mass adoption.
But Gensler’s comments may be just that: comments. They might not have too much legal weight. Here’s a good thread on why.
On the bright side, this is a win for Bitcoin: Gensler’s comments are a reminder that the OG and the Crypto Space are two very different things, and the government knows it.
Final words:
Market is slowing down and showing weakness in buy options. Still resistance lines holds but they are not unbreakable.
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Sentiment Is now BULLISH and real test for bulls are this week.
Not Financial Advice!
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Author
Jake
TOP Trader
