Are BIG green candles breaking resistance signaling the return of a bull market?

23.10.2023

Dear traders,

Bitcoin pumping and breaking resistance and for bull market back we need break and hold above 32k for big push up.

Jake
TOP Trader

BTC is surging and breaking through resistance. To confirm a bull market, we need to breach and sustain levels above $32,000 for a significant upward push. BTC is displaying strong momentum, but there is still a risk of falling back to $28,000 if the resistance remains robust. Be cautious with late long positions if the resistance holds firm. The bullish momentum is evident; however, be wary if resistance proves resilient.

ETH is encountering strong resistance at $1,700 and is facing a pullback. Breaking this resistance is crucial for a more substantial upward move, with the next resistance level at $1,830.

XRP is pushing aggressively toward $0.52 and is targeting a bullish push to $0.54, which is met with strong resistance.

LINK has broken the old resistance at $9.5 and is now preparing for a substantial upward move, striving to return to a wider trading range. Sustaining levels above $9.5 is essential for significant bullish momentum.

SOL is displaying a bullish momentum and has broken above the $29 support level, which needs to be held for a more substantial upward push. The bullish momentum can only continue with the $29 support level remaining intact.

EOS is still struggling with a formidable resistance level at $0.6. Sustaining levels above this resistance is crucial for a more extensive upward movement. Achieving a sustained price increase depends on a significant surge in buying volume.

LTC is currently trading within a mid-range around $65 and is struggling to gather enough buying momentum to breach the $70 resistance line.

DXY is losing momentum and must maintain levels above 106.2 to continue its bullish trend.

Crypto/stock daily news:

BITCOIN HASN’T BEEN THIS DOMINANT IN 2+ YEARS

A popular metric people follow is something called coin dominance.
For all the nerds, it’s calculated by dividing any coins’ market cap by the overall market cap of the top 125 coins and then multiplying it by 100.
For all the people that still have PTSD from 7th-grade Algebra (guilty as charged), just use this website and you won’t break a sweat.
And Bitcoin’s dominance has been on the rise this year….
• January 1, 2023: 41.91%.
• October 20, 2023: 52.20%.
In fact, this is the most dominant Bitcoin’s been since April 2021.
P.S. – for all the crypto curious, here’s the rest of the coin dominance leaderboard…
ETH: 17.55%
USDT: 7.85%
BNB: 2.98%
USDC: 2.36%
XRP: 2.57%
DOGE, ADA, MATIC, and SOL all have < 1%
ost dominant Bitcoin’s been since April 2021.

THE BEST PERFORMING ASSET OF THE YEAR IS…

For those of you keeping score at home…
Bitcoin has been one of the best investments year-to-date (YTD).
BTC: +80% YTD
ETH: +35% YTD
NASDAQ: +27% YTD
Gold: +6% YTD

Impressive.
And congrats to all our Bitcoin investors out there! Dinner’s on you.
Btw – no one’s a bigger winner than the investors that put money into orange juice (+103%), olive oil (+120%), and Royal Caribbean (+85%) this year though…
Note to self: forget about tech, invest in things grandmas love.

FAST NEWS:

The SEC dropped its charges against Ripple executives. The regulators had included them as defendants in its securities violation case revolving around XRP transactions.
Circle launched two new tools for developers called Gas Station and Smart Contract Platform. Gas Station removes transaction “gas” fees when integrated with Circle’s programmable wallets.
Smart Contract Platform simplifies smart contract importing, deployment, and management.
Grayscale Investments submitted a new spot Bitcoin ETF application. This was the asset manager’s latest move to convert its Bitcoin Trust into a spot bitcoin ETF. Can’t stop, won’t stop.
Over 100 U.S. lawmakers sent a letter to the White House and U.S. Treasury Department voicing their concerns about crypto’s use in illicit activities. The Anti-Crypto Army is growing…