Dear traders,
BTC dropped to 40k in just minutes and erased a whole week of push-ups.
Jake
TOP Trader
BTC:
INTRO: BTC made a big retest of support at 41.5k and needs to hold above for a bigger push-up.
Technical analysis for the BTC/USDT chart:
Key Levels:
• Resistance: $44,000, $45,500
• Support: $43,000, $41,500
Strategy:
• Long: Buy at $41.500 with a stop loss below $40,000 and a target price of $44,000.
• Short: Sell at $44,000 with a stop loss above $45,500 and a target price of $40,000.
Range Description:
BTC/USDT is currently trading in a range between $41,500 and $44,000. The pair has broken into range during the day. However, there are signs that the pair is ready to make a move with possible retest of support.
On the upside, BTC/USDT is facing resistance at $44,000. And 43,000$ level has been tested today and if the price holds above on daily close it will be confirmed as support. A break above $44,000 would signal a bullish breakout and could send the pair higher to $45,500.
On the downside, BTC/USDT is facing support at $43,000. This level is a previous resistance for the day and now holds as support. A break below $40,000 would signal a bearish breakdown and could send the pair lower to $37,000 or even $35,000.
BTC1D chart TW link: https://www.tradingview.com/x/NKFB6DTW/
ETH:
INTRO: ETH breaks support at 2300$ and needs to push back for bullish continuation. Still bigger sell-off is possible and a retest of 2100$ support.
Here is a technical analysis of the ETH/USDT chart:
Key Levels:
• Resistance: $2515, $2420
• Support: $2320, $2000
Strategy:
• Long: Buy at $2300 with a stop loss below $2100 and a target price of $2515.
• Short: Sell at $2420 with a stop loss above $2520 and a target price of $2300.
Range Description:
ETH/USDT is currently trading in a range between $2100 and $2400. The pair has broken into range during the day. However, there are signs that the pair is ready to make a move with possible retest of support.
On the upside, ETH/USDT is facing resistance at $2420. This level wasn’t tested today and if the price holds above on the daily close it will be confirmed as support. A break above $2320 would signal a bullish breakout and could send the pair higher to $2420.
On the downside, ETH/USDT is facing support at $2300. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $2300 would signal a bearish breakdown and could send the pair lower to $2000 or even $1900.
ETH1D chart TW link: https://www.tradingview.com/x/ViPhRmeN/
XRP:
INTRO: XRP still fights with 0.62$ resistance and needs to break it for full bullish confirmation. Still a lack of buy volume for push-ups. A strong push up to 0.67$ is what will break big resistance and push strong up.
Here is a technical analysis of the XRP/USDT chart:
Key Levels:
• Resistance: $0.66, $0.67
• Support: $0.62, $0.58
Strategy:
• Long: Buy at $0.62 with a stop loss below $0.58 and a target price of $0.67.
• Short: Sell at $0.66 with a stop loss above $0.67 and a target price of $0.62.
Range Description:
XRP/USDT is currently trading in a range between $0.58 and $0.67. The pair has shifted into range during the day. However, there are signs that the pair is ready to make a move with possible retest of support.
On the upside, XRP/USDT is facing resistance at $0.66. This level has been tested today and if the price holds above on the daily close it will be confirmed as support. A break above $0.67 would signal a bullish breakout and could send the pair higher to $0.7.
On the downside, XRP/USDT is facing support at $0.62. This level is a previous swing low and has been tested multiple times in recent weeks as big support. A break below $0.62 would signal a bearish breakdown and could send the pair lower to $0.58 or even $0.54.
XRP chart TW link: https://www.tradingview.com/x/AqWHXnx2/
LINK:
INTRO: LINK retest 14$ support and need to hold above 15$ for bullish continuation.
Here is a technical analysis of the XRP/USDT chart:
Key Levels:
• Resistance: $16, $16.5
• Support: $15, $14
Strategy:
• Long: Buy at $15 with a stop loss below $14 and a target price of $16.
• Short: Sell at $16 with a stop loss above $16.5 and a target price of $15.
Range Description:
LINK/USDT is currently trading in a range between $15 and $16. The pair has shifted into range during the day. However, there are signs that the pair is ready to make a move with possible retest of support.
On the upside, LINK/USDT is facing resistance at $16. This level has been tested today and if the price holds above on the daily close it will be confirmed as support. A break above $16 would signal a bullish breakout and could send the pair higher to $17.
On the downside, LINK/USDT is facing support at $15. This level is a previous swing low and has been tested multiple times in recent weeks as big resistance. A break below $15 would signal a bearish breakdown and could send the pair lower to $14 or even $13.
LINK chart TW link: https://www.tradingview.com/x/glOY9PMK/
SOL:
INTRO: SOL gets strongly rejected from 75$ resistance and retest 65$ support.
Here is a technical analysis of the SOL/USDT chart:
Key Levels:
• Resistance: $75, $78.8
• Support: $65.5, $63
Strategy:
• Long: Buy at $65.5 with a stop loss below $61 and a target price of $75.
• Short: Sell at $75 with a stop loss above $78.8 and a target price of $65.5.
Range Description:
SOL/USDT is currently trading in a range between 65$ and 75.5$. However, there are signs that the pair is ready to make a move to push strong resistance at 75$.
On the upside, SOL/USDT is facing resistance at $75. This level it has been tested today and if the price holds above on the daily close it will be confirmed as support. A break above $75 would signal a bullish breakout and could send the pair higher to $78.8.
On the downside, SOL/USDT is facing support at $65.5. This level is a previous swing low and has been tested multiple times in recent weeks as big support. A break below $65.5 would signal a bearish breakdown and could send the pair lower to $62 or even $58.
SOL chart TW link: https://www.tradingview.com/x/e2uR6Jln/
CRYPTO NEWS:
SIMPLE RULES OF THE TRADER JAKE
RULE #1: Protect the bag, at all costs.
It doesn’t matter how much money you make if at the end of the day… you get hacked.
Simple as that.
So, you need to do everything you can to NOT let that happen. Here are a few tips:
• Get a hardware wallet for your most valuable assets.
• Create separate hot wallets to connect to sites, engage with dApps, etc. (DO NOT KEEP YOUR VALUABLE ASSETS IN YOUR HOT WALLETS)!
• Double Quadruple check all links before you click ‘em. (If it smells phishy, it probably is).
• Don’t share your seed phrase. Don’t even take a picture of it. Write it down and keep it somewhere safe.
Hell, don’t even tell people how much crypto you own.
In the great words of Biggie Smalls…
?“Rule numbre uno, never let no one know
How much dough you hold, ’cause you know
The cheddar breed jealousy ‘specially
If that man f*cked up, get yo’ ass stuck up”?
Stay safe out there.
RULE #2: Don’t FOMO blindly.
FOMO = Fear Of Missing Out. And when prices are up, it’s everywhere.
You look to your right, your neighbor just became a millionaire from kittycatcoin.
Look to your left, your friend just sold some digital squiggles for $25M.
Suddenly the air around you goes from 78% nitrogen and 21% oxygen → 100% FOMOgen.
But be careful; don’t chase emotions.
Sometimes the best move is… no move. So don’t just “eat ‘cause you’re bored”.
Lions often wait days before they hunt their next target. And if the King of the Jungle does it, so can you.
RULE #3: Take profits, not screenshots.
Some crypto investors remind me of my little sister… whenever we’d go out to eat bomb food, her phone always ate first!
Don’t be like my sister. (If you’re reading this, sorry Tiff).
Take profits and celebrate the wins in your wallet. It matters more there than on Twitter.
RULE #5: Celebrate gains, but prepare for the rain.
It isn’t always gonna be sunshine and rainbows – even in a bull market.
There will be drawbacks. There will be 50% crashes. The bear is always lurking in the shadows.
Plan accordingly and always have cash ready to deploy. In crypto, liquidity is king.
Alright – I’m 3 glasses of beer deep and I’ve got to stop before my editor unplugs the computer.
For all the OGs ready to experience another bull run, may this one be better than the last.
For all the rookies, welcome to the party!
Let’s learn some sh*t, make some money, and laugh at the stumbles as this thing grows up and goes mainstream.
Until then, stay thirsty.
RULE #4: Celebrate gains, but prepare for the rain.
It isn’t always gonna be sunshine and rainbows – even in a bull market.
There will be drawbacks. There will be 50% crashes. The bear is always lurking in the shadows.
Plan accordingly and always have cash ready to deploy. In crypto, liquidity is king.
Alright – I’m 3 glasses of beer deep and I’ve got to stop before my editor unplugs the computer.
For all the OGs ready to experience another bull run, may this one be better than the last.
For all the rookies, welcome to the party!
Let’s learn some sh*t, make some money, and laugh at the stumbles as this thing grows up and goes mainstream.
Until then, stay thirsty.
FAST NEWS:
Robinhood is launching “commission-free crypto trading” in Europe starting next week. Users will have access to more than 25 cryptocurrencies, including BTC, ETH, SOL, and more.
The U.S. Securities and Exchange Commission (SEC) is working with asset managers to hammer out “key technical details” for a spot Bitcoin ETF approval. Another step closer…
Tensor has overtaken Magic Eden as the #1 Solana NFT marketplace. Tensor launched less than 12 months ago and already has ~60% of Solana’s NFT trading market share. Ok, rookie! We see you…
Sotheby’s is auctioning off its first Bitcoin Ordinals project. The collection is from the BitcoinShrooms project and will be available to bid on until Dec. 13.
Do Kwon is being extradited to the United States. Kwon is facing criminal fraud charges after Terra’s $40B collapse last year.
Block opened up pre-orders for its new self-custody Bitcoin wallet. The company’s new self-custody wallet consists of an app, hardware device, and recovery tools.
Final words:
This big retest happened in minutes and it was expected and now we need to wait for a bigger push-up from support or nuke continuation.
We celebrate 1 year of blog posting by Top Trader Jake we are happy to announce that we have upgraded the BLOG post with more information and trading setups!
Please send us a message about what coin would you like to see in Trader Jake Technical Analysis we are ready to add more coins and setups.
GROW BOT UPDATE:
Copy trade GROW 0.1->10k$ since 18.03 we got +162.0% PROFIT!
GROW CURRENTLY:
TRADING COIN: BTC/USDT
SETUP: SHORT
TAKE PROFIT: pending
SAFETY ORDERS: pending
Liquidation: pending
Not Financial Advice!
Good luck with trades,
JAKE
