Dear traders,
Market makes local swings from long to short in hour long time we not see this since bull run.
Jake
TOP Trader
BTC:
BTC retesting support and uptrend line. If support don’t hold we could see fast 22k region. Still option to push up more to 25.200$ but need lot of power and positivity from market. Stay safe trade with small leverage.
ETH:
ETH is at support 1650$ and still neutral position. On bigger time frame situation is bearish and there is lack of volume and power on market. Trade with small leverage.
XRP:
XRP didn’t show strength to break 0.4$ and still not showing volume to break resistance. Push ups are weaker and weaker. Still big sell off XRP is still on.
LINK:
LINK make all hits and push to 8$ looking great to next push. Need to hold 8$ during week for next leg up. Looking good on larger time frame for big push.
SOL:
SOL still under bigger resistance 24.2$ now accumulating for big push. If not able to break 24.2$ test of support is coming. Trade with small leverage.
DXY:
DXY looking boolish and 104.6 resistance turn in support. Looking great to hit 105 region.
Crypto/stock daily news:
WTF IS STACKS AND WHY IS IT UP OVER 160%
There’s a new token taking crypto by storm: Stacks (STX). It’s the native token for the Stacks Network, a so-called Layer 2 network that sits atop Bitcoin’s own (L1) network.
Over the last week STX is up 163% to about $0.87 and has regained a market cap of about $1B. #ThreeCommaClub
So wtf is the Stacks Network and why is the token up so much? Two reasons, friends:
1.) Stacks Network powers NFTs on Bitcoin
Cypto’s oldest blockchain is hot for NFTs—“digital artifacts” if you’re nasty—and more than 160,000 digital artifacts have been created on Bitcoin in the last month.
Call it a Gold Rush of sorts. If Bitcoin NFTs are the gold, then Stacks is the shovel. Built on top of Bitcoin, Stacks lets developers create and deploy smart contracts, which power stuff like NFTs, DeFi, etc.
Before this, Bitcoin was principally used for monetary transactions. If you wanted to build an app, you’d go to another blockchain like Ethereum or Solana.
Stacks changes this. As the hype for Bitcoin NFTs and DeFi apps goes up, so goes the price of Stacks’ native token.
But the “cherry on top” is…
2.) Stacks is SEC-approved
STX was the first-ever token offering that received approval from the SEC back in 2019.
Not only that, but Stacks was later deemed “not a security” in 2021. This means that investors can legally trade the STX token on U.S. crypto exchanges.
Stacks is therefore cool with the SEC, which is kinda like being the child of a diplomat back in high school. No matter what you get into, you got that immunity, baby!
Can STX keep the momentum going? That’s a question of whether enough people believe in the future of smart contracts on the Bitcoin blockchain. So far, it’s looking good.
Final words:
Whole market is at support and there is many alt what are waiting to explode and still accumulating better to focus on them. If BTC don’t hold support it will crash whole crypto market but this is good for next leg up we are going to 30k this year one more confirmation is what we need(+25.2k).
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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
