Strong push up resistance hold strong!!!

Strong push up resistance hold strong!!!

Dear traders,

After good news on market, we have push up but resistance is still strong. Need to push strong up and hold above resistance for next leg up.

Jake
TOP Trader

BTC:

BTC break and hit 26k and by end of day drop under 25.200$ resistance. Need to hold on daily above 25.200$ for confirmation of push up. Good long re enter is at 23.200-23.500$ if we drop back to it.

ETH:

ETH make big push into resistance and need to hold daily above 1720$ to continue grow to 2000$.

XRP:

XRP still low on strength and did not hold above 0.38$ and now looking like stable coin with trade in range.

LINK:

LINK didn’t hold above 7$ and turn back under it. Still need hold above 7$ on daily for next leg up.

SOL:

SOL try to break 22$ and push down. Need to hold above 20$ to continue grow for next leg up.

DXY:

DXY makes big push into 104.6 and now aiming for 105 what could send him more up and market down.

Crypto/stock daily news:

CRYPTO RALLY

Yesterday was full of green. Prices across the board were green. The Milk Road wallet was in the green. Hell, I even added some veggies to my plate for dinner to keep the green going…
In total, the crypto market gained ~$70B.
Bitcoin was up 9% on the day
Ether was up 7%
Cardano was up 12%
Solana was up 10.3%
Why the optimism? Could be good ole confidence in decentralized assets like crypto after seeing banks fall. Could also be that the government is rescuing SVB and Signature depositors.

But there’s also the rest of Binance’s $1B recovery fund that CZ just pumped into the market in the form of BTC, ETH, and BNB (Binance Coin.)

Whatever it was, at least crypto’s prices aren’t in the gutter like its banks are…

VISUAL OF THE DAY: WALL STREET CHEAT SHEET VS CRYPTO’S MARKET CAP

A few years ago Wall Street created a famous “cheat sheet” for investors. It’s a chart on the psychology and feelings of a market cycle.

It shows how things go from hope → thrill → euphoria → anxiety → panic → depression over the span of a market cycle. (It’s also what happens during my Oreos-eating cycle.)

Well check it out, a crypto founder on Twitter put a graph of crypto’s market cap since 2019 on top of Wall St’s Cheat Sheet to see how they compare.

The crazy part? Both graphs are nearly identical.

The big takeaway: If the trend continues then buckle up, we have a lot of anger & depression to go through before the next cycle.

But don’t worry, we’ll be here to make you chuckle every step of the way.

Final words:

Market push hard up and need to hold this push. Bank problem could bring price down and stop in market 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