Dear traders,
Market is showing weakness and next leg down is still possible. Trade with small leverage and stop
loss under support.
Jake
TOP Trader
BTC:
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:
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:
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$. Still big sell off XRP is still on.
LINK:
LINK drop under support and show no strength. If resistance stay strong we could see 7$ 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 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
centralized exchanges.
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?
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!
Good luck with trades!
Author
Jake
TOP Trader
