BTC bulls charging into SEC news update.

08.01.2024

Bitcoin is pumping and charging into resistance before SEC news about ETF comes out. Altcoins bleeding after BTC dominance increase.

Jake
TOP Trader

BTC:
INTRO: BTC pushing into 45k resistance.

Technical analysis for the BTC/USDT chart:

Key Levels:

• Resistance: $45,500, $44,000
• Support: $43,000, $41,500

Strategy:

• Long: Buy at $43.000 with a stop loss below $40,000 and a target price of $45,500.
• 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 $40,500 and $45,000. 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 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 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/qMgOXNt0/

ETH:
INTRO: ETH back to 2200$ support zone.

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

Key Levels:

• Resistance: $2320, $2420
• Support: $2220, $2100

Strategy:

• Long: Buy at $2220 with a stop loss below $2100 and a target price of $2420.
• Short: Sell at $2420 with a stop loss above $2520 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 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 hasn’t been tested today and if the price holds above on the daily close it will be confirmed as support. A break above $2420 would signal a bullish breakout and could send the pair higher to $2520.

On the downside, ETH/USDT is facing support at $2320. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $2320 would signal a bearish breakdown and could send the pair lower to $2220 or even $2000.

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

XRP:
INTRO: XRP holding above 0.54$ and needs to hold up before the next leg down.

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

Key Levels:

• Resistance: $0.62, $0.58
• Support: $0.54, $0.52

Strategy:

• Long: Buy at $0.54 with a stop loss below $0.52 and a target price of $0.62.
• 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 $0.54 and $0.62. 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 $0.58. 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 $0.58 would signal a bullish breakout and could send the pair higher to $0.62.

On the downside, XRP/USDT is facing support at $0.54. This level is a previous swing low and has been tested multiple times in recent weeks as big support. A break below $0.54 would signal a bearish breakdown and could send the pair lower to $0.52 or even $0.48.

XRP chart TW link: https://www.tradingview.com/x/sqpuajNX/

LINK:
INTRO: LINK holding line at 13$.

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

Key Levels:

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

Strategy:

• Long: Buy at $14 with a stop loss below $13 and a target price of $16.
• Short: Sell at $15 with a stop loss above $16 and a target price of $14.

Range Description:

LINK/USDT is currently trading in a range between $14 and $17. 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 $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 $16.

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 big resistance. A break below $14 would signal a bearish breakdown and could send the pair lower to $13 or even $13.

LINK chart TW link: https://www.tradingview.com/x/k2Lbmoqi/

SOL:
INTRO: SOL holding line at 90$ support.

Here is a technical analysis of the SOL/USDT chart:

Key Levels:

• Resistance: $107, $120
• Support: $90, 100$

Strategy:

• Long: Buy at $100 with a stop loss below $90 and a target price of $120.
• Short: Sell at $107 with a stop loss above $120 and a target price of $100.

Range Description:

SOL/USDT is currently trading in a range between 100$ and 126$. However, there are signs that the pair is ready to make a move to push strong resistance at 120$.

On the upside, SOL/USDT is facing resistance at $107. 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 $107 would signal a bullish breakout and could send the pair higher to $126.

On the downside, SOL/USDT is facing support at $100. This level is a previous swing low and has been tested multiple times in recent weeks as big support. A break below $100 would signal a bearish breakdown and could send the pair lower to $90 or even $80.

SOL chart TW link: https://www.tradingview.com/x/RF2Hniif/

CRYPTO NEWS:

ETHEREUM L2’S JUST PASSED ALL L1 CHAINS IN COMBINED TVL

Check it out. Josh Stark (no relation to Tony Stark) works at the Ethereum Foundation.

Back in Sept 2021, he created a poll…

When will the total value lock in Ethereum’s L2 exceed the total value locked in all applications & protocols on other L1 chains combined?

The majority of people guessed Q1 2022. And boy were they spot on wrong as hell. Right quarter. Wrong year.

But almost two and half years later, it finally happened…

• Ethereum L2s = $20.7 billion

• Other L1s = $19.67 billion

Pretty crazy. And we expect this trend to continue:

• Ethereum’s 2024 roadmap has a large focus on Layer 2’s.

• The Dencun upgrade is coming soon. One of the main goals is to make L2 gas fees cheaper. (You can check out the expected price differences here).

P.S. – congrats to Arbitrum! It just became the first L2 to cross $1B+ in daily volume on Uniswap.

DIGITAL ASSET INVESTMENT PRODUCTS SAW $2.5B OF INFLOWS LAST YEAR

Each week, CoinShares drops a report on how much institutional money flows in and out of crypto-related products.

It’s a good way to gauge institutional interest.

Well, CoinShares’ latest report is for the entire 2023 year. And there were some big takeaways:

• $2.5B was invested into digital asset investment products last year. That’s 2.7x more than 2022 and is the 3rd largest year for inflows.

• Bitcoin had $1.9B of inflows. That’s 87% of the total flows. (!!)

• Total assets under management (AUM) rose 129% over the year. Total AUM is now the highest it has been since March 2022.

• Solana had $167M in total inflows. It was the second most popular asset behind Bitcoin and saw 2x more than Ethereum.

• The US saw the largest inflows ($792M). Germany was second ($663M), then Canada ($543M), and then Switzerland ($434M) to round out the top 4.

FAST NEWS:

Solana-focused wallet drainers are on the rise. They enable fraudsters to covertly drain wallets after deceiving victims into approving malicious transactions. Losses are already mounting into the hundreds of thousands of dollars.

Visa is piloting a new web3 customer loyalty program. The customer engagement platform, named the Visa Web3 Loyalty Engagement Solution, will let brands create digital wallets where they can store reward points and experiences on behalf of consumers.

Financial advisers want a bitcoin ETF, but less than half expect approval. According to Bitwise’s recent survey, only 39% of financial professionals believe a spot Bitcoin ETF will be approved in 2024.

South Korean regulators are looking to ban crypto purchases using credit cards. Regulators want to expand the scope of prohibited credit card payments to add crypto exchanges to prevent foreign currency outflow and prevent money laundering.

Final words:

The market pushing BTC price up after this big FOMO about ETF and will continue this week. Alts are still in danger because BTC dominance increases and money flows in it.

GROW BOT UPDATE:

Copy trade GROW 0.1->10k$ since 18.03 we got +214.0% PROFIT!

GROW CURRENTLY:

TRADING COIN: BTC/USDT
SETUP: SHORT
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