The US dollar pumping will cause the market to break down.

17.05.2023

Dear traders,

The DXY (dollar) is making a big push from support, and larger growth is expected. With a stronger DXY, the crypto market will show weakness and fall further.

Jake
TOP Trader

BTC dropped back with the DXY pushing up and showed no strength to break the $27,100 resistance. A bigger drop is still possible with a target of $25,200!

ETH is still fighting with the $1,800 resistance and showing no strength for a big push. The next leg down is loading.

XRP made a bigger push up to the $0.46 resistance zone but was pushed down strongly. It needs to break the $0.46 resistance for bullish continuation.

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 is fighting with the $21 resistance and showing no significant strength for a strong push-up. A drop is still possible to the $18 support.

EOS is fighting back to the $0.9 resistance and has been pushed back to $0.89, which is now acting as support. If the support holds, it could make another push-up in the coming days.

LTC is breaking bullish and is now trying to break the $94 resistance, which is the next step before a strong uptrend to $100. 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!

DXY bounced back from the 102.5 support and is now aiming for a bullish breakout to 103 and beyond.

Crypto/stock daily news:

FROM $0 → ~$7M IN ONE WEEKEND

Wow, do we have a story for you, ready? It involves an NFT personality (ben.eth), two trending meme coins, and $6.9M…
Buckle up, Roadies.

Here’s the story in 5 parts:

PART 1: CREATE A SH*TCOIN
One cool thing about sh*tcoins is they don’t do anything, so you can name them whatever you want. In this case, ben.eth took the easy route and named his after himself, $BEN.

PART 2: LAUNCH SH*TCOIN WITH A PRESALE
ben.eth didn’t go the traditional presale route, he started collecting ETH directly to his wallet. He was able to raise 55 ETH from over 300 contributors – around $100K at the time.

PART 3: GIVE AWAY OWNERSHIP TO YOUTUBER
$BEN was on a fast track to 0 until another Ben jumped in to save the day. An unlikely “hero” who seems to always find himself in the midst of Twitter controversies.
The infamous Bitboy Crypto.

While he joined as a team member, he ended up taking over the whole damn thing a day later. A classic case of the student becoming the teacher.
And even though ben.eth abandoned his prized creation within 72 hours, Bitboy’s tweets were enough to pump the price more than 10x in a day.

PART 4: ANNOUNCE A NEW SH*TCOIN
So what do you do when a Youtuber buys out your sh*tcoin right after launch? You create another one.
ben.eth called it $PSYOP.

Within an hour, he had already raised $1M. And at the end of the presale, his wallet was holding ~$6.9M (nice).

PART 5:

Repeat Step 1 and Step 2,
And steps 3 and 4, if you’re lucky enough to come across someone as passionate about their name as Ben Armstrong is.
The craziest part of all this? People don’t care to know about what they are buying. And some were sending over multiple ETH. As of writing, $PSYOP hasn’t even launched.
So what? This says a lot about the current crypto landscape.
While we wait for true value to be created and adoption to continue, the space is dominated by attention and FOMO.

FAST NEWS:

NFT-fi just launched a brand-new phase in their popular loyalty program. In EARN SEASON 1 you can earn exclusive, non-transferable reward points for NFT borrowing/lending on their platform.
(Sponsored)

Binance leaves Canada amid increased regulation. The latest victim of the regulatory crackdown sweeping North America.
Quadriga CX customers finally receive their payout. Creditors are only receiving 13% of their claim after waiting for ~5 years… Pour one out.
Crypto attacks and cyberattacks fund about 50% of North Korea’s missile program. They’ve stolen over $2.3B total, with 30% of stolen funds coming from Japan.
Binance CEO CZ recently unfollowed Elon Musk on Twitter. This an interesting follow-up to Binance investing $500M in the Twitter takeover. There’s speculation CZ isn’t happy with Elon’s plans to launch a crypto wallet within the app.