Market is showing weakness and next leg down is still possible. Trade with small leverage and stop
loss under support.
BTC try once more break 24.000$ but rejected to 23.400$ support zone. Still show no strength for
next leg up. Any bigger rejection will bring BTC price to 21-22k region.
ETH pushing into 1650$ resistance but show no strength for push for now. Rejection from 1650$ will
push down price to 1500$ zone. Good for small SHORT tight stop loss with small leverage.
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$. Still big sell off XRP is still on.
LINK drop under support and show no strength. If resistance stay strong we could see 7$ support
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 still holds above 104.6 what is good for next leg up. DXY up market down.
Crypto/stock daily news:
CHART OF THE DAY: SLEEPING BITCOIN
The amount of Bitcoin held in dormant wallets has surpassed the amount of Bitcoin held on
According to Glassnode, there’s currently ~2.2M Bitcoin held on centralized exchanges. “Ancient
holders” (those who haven’t moved their Bitcoin in 10+ years) are holding a total of ~2.6M Bitcoin.
Looking at just the last six months, almost 15M Bitcoin haven’t moved. That amounts to ~$370B
worth of tokens. And important reminder that only 21M BTC will ever exist…
All of this means a couple of things:
There are tons of people that believe strongly enough in Bitcoin’s future that they have held onto
their holdings for at least a decade (or lost their private key, oops).
Crypto investors are moving away from centralized exchanges towards non-custodial wallets
where they don’t have to worry about their holdings vanishing in bankruptcy or hack.
Do these “Sleeping Bitcoins” make you more bullish on BTC?
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!
Good luck with trades!