Dear traders,
The market is unable to break out from the low range, indicating a possible bigger drop.
Jake
TOP Trader
BTC is currently fighting resistance at $27,100 and attempting to break it. There is still a CME gap at $26,500 that could be filled in the coming days. A bigger drop is still possible!
ETH reached $1,850 as predicted and is now undergoing a retest drop. The next leg down is loading. Trade with a tight stop loss.
XRP is still holding the $0.425 support level and needs to maintain it. Otherwise, the next price target at $0.37 will be reached quickly. This is not favorable for a bigger long position.
LINK is currently trading in the mid-$6 range, with $6.45 acting as support. It still lacks strength for a significant upward push. Buy all dips under $7 in spot mode, as it will pay off in the future with LINK.
SOL has bounced from the support at $20, which historically indicates strength and a retest of the drop. However, it still does not exhibit strength in the longer term.
EOS, after a significant drop, is retesting resistance at $0.89. It still lacks strength for the next leg up. The green zone is a good buy zone for the next push up.
LTC is pushing hard in an uptrend and approaching bigger resistance lines. In 80 days, there will be a halving event in LTC, indicating a larger price increase after the mining supply is reduced. This presents a BIG opportunity to invest and hold!
The DXY is still struggling with 102.5 and requires a stronger impulse to break it.
Crypto/stock daily news:
THE FIRST PURCHASE MADE WITH BITCOIN
Everyone was talking about one thing this weekend: the first purchase made with Bitcoin.
You see, someone went down the Internet’s rabbit hole and found a post on the BitcoinTalk forum from 2010.
In the post, a user named Sabunir put up a JPEG desktop background up for sale.
The price? 500 BTC.
At the time, 500 BTC was worth a whopping $1. Today, that’s worth ~$13.4 MILLION (!!)
Here’s the original post:
This is cool for 2 reasons:
1. It’s the first recorded purchase made with Bitcoin.
This post was 5 months before the famous Bitcoin Pizza transaction where a guy bought 2 pizzas for 10,000 BTC, worth ~$271M at today’s prices.
(Unfortunately, it was Papa John’s pizza too. Yuck.)
2. Satoshi helped facilitate the Bitcoin JPEG sale.
Some Bitcoin users have been upset with the rise of Ordinals (AKA Bitcoin NFTs) and have claimed that it wasn’t part of Satoshi’s vision…
Well, looks like that might be wrong.
Satoshi actually helped broker the first JPEG deal using Bitcoin. Oh, how the tables have turned…
Final words:
BTC is in retest of drop mod and we could expect more lows before bigger push up.
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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
