Altcoins pumping after bitcoin slowing down and losing dominance!

08.12.2023

Altcoins pumping after bitcoin slowing down and losing dominance!

Dear traders,

Altcoins are ready for bigger breakout after slowing in Bitcoin dominance and Ethereum pump begins.

Jake
TOP Trader

BTC:
INTRO: BTC still fights with 44k resistance and retest of 43k support is now playing.

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 break into range during 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 price hold 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 day and now hold 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/cCBOpqr2/

ETH:
INTRO: ETH breaks resistance at 2300$ and need to break above for bullish continuation. Still bigger sell off is possible and retest of 2320$ support.

Here is a technical analysis for 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, breaking into this range during the day. However, there are indications that the pair might be gearing up for a move, possibly with a retest of support.

On the upside, ETH/USDT is confronting resistance at $2420. If the price holds above this level on the daily close, it would confirm it as support, potentially signaling a bullish breakout that could drive the pair higher to $2420.

On the downside, the pair is encountering support at $2300, a previous swing low that has served as resistance in recent weeks. A break below $2300 would suggest a bearish breakdown, possibly sending the pair lower to $2000 or even $1900.

Monitoring these key levels and observing how the price reacts will be crucial for assessing the potential direction of ETH/USDT in the near term.

ETH1D chart TW link: https://www.tradingview.com/x/ukwNjAr6/

XRP:
INTRO: XRP is still contending with the $0.66 resistance and needs to break through for full bullish confirmation. There is still a lack of buying volume for a significant push upward. A strong move to $0.67 is what is needed to break the substantial resistance and propel it strongly upward.

Here is a technical analysis for 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 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 $0.70.

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/DVjmYyDE/

LINK:
INTRO: LINK still fights with the $16.5 resistance and needs to break it for full bullish confirmation. Now in a bullish formation for a bigger push up if the $16 support holds.

Here is a technical analysis for 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 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, 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 significant 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/aQsMRhj7/

SOL:
INTRO: SOL is breaking out fully bullish and is now poised for a push towards the $75 resistance.

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 push against 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 it 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://www.tradingview.com/x/WkNhjQYu/

CRYPTO NEWS:

JAMIE DIMON CALLS OUT CRYPTO (AGAIN) 

Jamie Dimon is…

  • A billionaire.
  • The CEO of JPMorgan.
  • A (long time) crypto hater.

He’s what we call, an American Gangster Bankster.

And Jamie testified at a Senate Banking Committee hearing yesterday to talk about his favorite subject… crypto.

Here’s what he had to say:

Hmm. Wait a minute…money laundering, drug trafficking, aiding criminals, violating banking regulations…*checks notes*…

These are all things JPMorgan has been accused of doing!

  • Drug trafficking: Back in 2019, a ship owned by JPMorgan was seized after U.S. authorities found ~40,000 pounds of cocaine (worth $1.3B) on it.
  • Violating regulations: JPMorgan was hit with $200M in fines for letting employees use WhatsApp to evade regulators.
  • Fraud: JPMorgan paid a $920M settlement fee in connection with schemes to defraud precious metals and U.S. Treasuries markets.

Since 2000, JPMorgan has paid ~$39.3B in penalties. I repeat, 39 BILLION U.S. DOLLARS.

Talk about the irony. Jamie needs to check himself before he rekts himself.

FAST NEWS:

Michael Jackson’s first-ever studio demo is being released on the blockchain. The track, titled “Big Boy” will be turned into a “digital vinyl” NFT.

Binance said it will compensate users after the AEUR stablecoin fiasco earlier this week. The stablecoin spiked by 200% within hours, causing AEUR to lose its peg.

Societe Generale is launching a new euro-pegged stablecoin called EURCV. It’s the first time a regulated European bank has launched a stablecoin on a crypto exchange.

Societe Generale is launching a new euro-pegged stablecoin called EURCV. It’s the first time a regulated European bank has launched a stablecoin on a crypto exchange.

Circle is teaming up with Nubank to broaden access to USDC to its customers. Nubank has 85M users and is one of the largest fintech companies in Brazil.

Amazon Prime is giving out free card packs for the NFT game “Gods Unchained”. Prime members will be able to claim free in-game content each month, for the next 6 months.

Final words:

Altcoins are pushing up as predicted with big resistances to break and continue push up.

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 +139.0% PROFIT!

GROW CURENTLY:

TRADING COIN: BTC/USDT

SETUP: SHORT

TAKE PROFIT: 39.670$

SAFETY ORDERS: 7/10

Liquidation: 48.200$

Not Financial Advice!
Good luck with trades,
JAKE