After bounce from support still resistance is strong and unbreakable for push up.

19.12.2023

Dear traders,

BTC need bigger buy volume push up for bullish continuation.

Jake
TOP Trader

BTC:
INTRO: BTC is still encountering significant resistance at the 43k level.

Technical analysis for the BTC/USDT chart:

Key Levels:

Resistance: $43,000, $41,500
Support: $38,500, $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 $43,000 with a stop loss above $44,500 and a target price of $40,000.

Range description:

BTC/USDT is currently trading in a range between $40,500 and $44,000. The pair has broken into this range during the day. However, there are signs that the pair is ready to make a move, with a possible retest of support.

On the upside, BTC/USDT is facing resistance at $44,000. The $43,000 level has been tested today, and if the price holds above on the daily close, it will be confirmed as support. A break above $43,000 would signal a bullish breakout and could send the pair higher to $45,500.

On the downside, BTC/USDT is facing support at $41,500. This level, which was a previous resistance for the day, 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/enYgUCQ1/

ETH:
INTRO: ETH is retesting $2220 as strong resistance and needs to push above for bullish continuation.

Here is a technical analysis for the ETH/USDT chart:

Key Levels:

Resistance: $2320, $2220
Support: $2060, $2100

Strategy:

Long: Buy at $2100 with a stop loss below $2060 and a target price of $2320.
Short: Sell at $2220 with a stop loss above $2320 and a target price of $2100.

Range description:

ETH/USDT is currently trading in a range between $2100 and $2400. The pair has broken into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.

On the upside, ETH/USDT is facing resistance at $2220. This level hasn’t been tested today, and if the price holds above on the daily close, it will be confirmed as support. A break above $2220 would signal a bullish breakout and could send the pair higher to $2320.

On the downside, ETH/USDT is facing support at $2100. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $2100 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/HRlFgsBW/

XRP:
INTRO: XRP is retesting the $0.58 support and needs to hold above it for bullish continuation.

Here is a technical analysis for the XRP/USDT chart:

Key Levels:

Resistance: $0.62, $0.67
Support: $0.58, $0.54

Strategy:

Long: Buy at $0.62 with a stop loss below $0.58 and a target price of $0.67.
Short: Sell at $0.62 with a stop loss above $0.67 and a target price of $0.58.

Range description:

XRP/USDT is currently trading in a range between $0.58 and $0.67. The pair has shifted into this range during the day. However, there are signs that the pair is ready to make a move with a 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 significant 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/pS5OLMN0/

LINK:
INTRO: LINK retest 14$ support and need to hold above 15$ for bullish continuation.

Here is a technical analysis for the LINK/USDT chart:

Key Levels:

Resistance: $16, $15
Support: $13.3, $14

Strategy:

Long: Buy at $14 with a stop loss below $13.3 and a target price of $16.
Short: Sell at $15 with a stop loss above $16.5 and a target price of $14.

Range description:

LINK/USDT is currently trading in a range between $14 and $16. The pair has shifted into a range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.

On the upside, LINK/USDT is facing resistance at $15. 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 $15 would signal a bullish breakout and could send the pair higher to $17.

On the downside, LINK/USDT is facing support at $14. This level is a previous swing low and has been tested multiple times in recent weeks as significant resistance. A break below $14 would signal a bearish breakdown and could send the pair lower to $13 or even $14.

LINK chart TW link: https://www.tradingview.com/x/n36DomeG/

SOL:
INTRO: SOL is ready to break the $75 resistance with a strong buying push.

Here is a technical analysis for 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 break the strong resistance at $75.
On the upside, SOL/USDT is facing resistance at $75. 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 $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 significant 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: https://www.tradingview.com/x/j9DlzMwl/

CRYPTO NEWS:
CRYPTO IS UNDER ATTACK!

Last week, decentralized finance (DeFi) came under fire…

Funds were being stolen. Popular DeFi apps went offline. The entire industry was gasping for breath.

And just when we thought the worst was over and the day was saved…

… there was another surprise attack.

What happened: Millions of dollars worth of NFTs were stolen over the weekend.

NFT Trader, a popular peer-to-peer trading platform, fell victim to a hack due to a “reentrancy vulnerability” found in two old smart contracts.
The exploit allowed the hacker to drain NFTs from random wallets that had used the NFT Trader platform in the past.
Popular NFTs like Bored Apes, Mutant Apes, and World of Women were all taken.

As a result, about 70 NFTs (worth $3M+) were stolen.

Quick update – it looks like most of the NFTs have now been returned after the hacker received a 10% “bounty.

Trader Jake Take: I’m no doctor, but the cryptocurrency industry currently seems to have a bad case of E.V.H Syndrome (Exploits, Vulnerabilities, and Hacks).

Which is ironic because… well, the first part of the word cryptocurrency is “crypto”!

Short for cryptography; nerd-talk for “secure.”

By definition, it’s supposed to be an industry that’s focused on security first. But lately, stealing crypto seems easier than taking candy from a baby.

As long as that holds true, crypto will struggle to go mainstream.

SOLANA JUST MADE HISTORY…

For the first time ever, Solana has surpassed Ethereum in decentralized exchange (DEX) trading volume.

But wait! There’s more!

At one point over the weekend:

4 out of the top 10 DEXs were on Solana.
Solana had 2x more NFT trading volume than Ethereum.
One of Solana’s new crypto phones resold for $5,000 on eBay (the original price was $600, but it comes with potential token airdrops, which caused the phone’s price to soar).

Wow. Talk about a glow-up.

Last year, everyone was making fun of Solana for its network outages and small user base.

Fast forward to today, everyone loves Solana.

It went from crypto’s nerdy, fat kid with braces → supermodel with a killer smile and less body fat percentage than the milk I drink (2%).

FAST NEWS:

Coinbase Wallet is making sending money as easy as sending a text. Users can now send money to friends and family through links, leading to easy onboarding for new crypto users. Available now on iOS, Android, and as a browser extension on Chrome and Brave.*
Check out some of the significant crypto laws coming in 2024. U.S., U.K., Japan, Switzerland – you name it, they all have their eyes set on crypto regulation. – DL News
Arbitrum suffered a temporary outage. Despite the temporary setback, Arbitrum One has since resumed normal operations, and gas prices are gradually returning to expected levels.
SafeMoon filed for Chapter 7 bankruptcy. The news comes just a month after the DeFi protocol’s executives were charged with fraud by the U.S. Securities and Exchange Commission (SEC).
Jupiter announced its highly-anticipated airdrop set for January. sniff sniff There’s nothing like the smell of a sweet, sweet airdrop.
Copper launched a new settlement network for institutional clients involved in trading and holding digital assets. The digital assets firm added that the new network will give a growing number of institutional clients the ability to settle their OTC trades with all their counterparties, regardless of where they custody their assets.

Final words:

Market make local push but resistance is still strong and big players are building they short positions.

WE celebrate 1 year of blog posting by Top Trader Jake we are happy to announce that we upgrade BLOG post with more information and trading setups!

Please send us message 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 +176.0% PROFIT!

GROW CURENTLY:

TRADING COIN: BTC/USDT

SETUP: SHORT

TAKE PROFIT: 41,950 USDT

SAFETY ORDERS: 2/10

Liquidation: 67,000 USDT