BTC don’t stop pushing up news coming this week!

09.01.2024

Bitcoin is breaking old resistance on daily and is now charging intro 48k resistance which is big monthly resistance.

Jake
TOP Trader

BTC:
INTRO: BTC pushing into 47k resistance.

Technical analysis for the BTC/USDT chart:

Key Levels:

• Resistance: $45,500, $47,100
• Support: $43,000, $45,500

Strategy:

• Long: Buy at $45,500 with a stop loss below $43,000 and a target price of $47,000.
• Short: Sell at $47,000 with a stop loss above $48,500 and a target price of $45,000.

Range Description:

BTC/USDT is currently trading in a range between $43,500 and $48,000. 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 $47,000. And 47,000$ level has been tested today and if the price is above the daily close it will be confirmed as support. A break above $47,000 would signal a bullish breakout and could send the pair higher to $48,500.

On the downside, BTC/USDT is facing support at $45,500. This level is a previous resistance for the day and now holds as support. A break below $45,500 would signal a bearish breakdown and could send the pair lower to $43,000 or even $40,000.

BTC1D chart TW link: https://www.tradingview.com/x/7R9Cmp9q/

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/JtJkKx89/

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/YmdMIwcf/

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/PKwcbfLL/

SOL:
INTRO: SOL holding the 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/ruFeojCK/

CRYPTO NEWS:

3 THINGS TO WATCH OUT FOR THIS WEEK

We’ve got a BIG week ahead. Here are 3 things that should be on everyone’s radar…

1. Bitcoin ETF approval.

I know I know… you’re probably as tired of hearing about ETFs as I am of writing about them.

The good news? January 10th is the deadline for the U.S. Securities and Exchange (SEC) to make its decision on a handful of applications.

So, regulators need to make a decision this week.

Why this matters: The first spot Bitcoin ETF application was filed in 2013. For the last decade, every single one has been rejected.

This is the ETF equivalent of being “friend-zoned” for 10 years straight… so if it does get approved, it would be a historical moment for Bitcoin.

Many speculate this could lead to billions of institutional dollars flowing into BTC. Just check out how the top 25 ETF launches have performed:

There are also rumors that BlackRock has ~$2B of capital lined up from existing BTC holders who want to rotate into spot Bitcoin ETFs within the first week.

On top of that, ETF issuers are battling in a Fee War to attract the first investors:

• Grayscale dropped its fees from 2% → 1.5%.

• BlackRock cut its fees from 0.3% → 0.2% for the first 12 months, or until $5B volume is hit (whichever comes first).

• Ark Invest lowered its fees from 0.8% → 0.25% (and NO fees for the first 6 months, or until $1B volume is hit).

• Other issuers like Bitwise and Invesco Galaxy have also waived fees for the first 6 months.

This is a good sign. Institutions are likely anticipating a lot of early demand from investors and, to stay competitive, are cutting fees to make their products more attractive.

(PSA to Netflix, Hulu, and all other streaming services… take notes)!

2. CPI results are dropping this week.

The U.S. is dropping its Consumer Price Index (CPI) report on Thursday.

CPI = the average change in prices for everyday things like housing, clothes, transportation, food, etc.

Why this matters: CPI data drives interest rate policy, which drives market prices up and down.

Keeping track of the data is like going to the dentist – painful, but necessary.

3. Another round of liquidations coming?

If crypto had a middle name, it’d be… Volatile. (Last name: As F*ck).

And right now, crypto is more volatile than it’s been in years.

One of the big reasons? Liquidations.

Why this matters: With the SEC’s decision to approve/deny a spot Bitcoin ETF and CPI numbers coming, we expect some volatility and liquidations this week.

Brace yourselves. This is one of those weeks where it might be best to just sit on your hands and do nothing.

FAST NEWS:

Warner Bros is teaming up with Futureverse to build a virtual world based on “Ready Player One”. No one knows what this means, exactly, but it has the nerd’s chest bumping in the office.

New crypto projects are rewarding Celestia stakers with airdrops. Staking as little as 1 TIA made some users eligible for one of the upcoming airdrops. —DL News

VanEck is pledging 5% of profits for its Bitcoin ETF toward supporting Bitcoin Core developers. It’s a 10-year pledge and an initial $10K grant has already been given to a group of Bitcoin devs.

In-person businesses accepting Bitcoin nearly tripled in 2023. There are currently over 6,000 vendors that accept Bitcoin around the world, with many located in Latin America.

Digital Currency Group (DCG) has paid off short-term loans from its bankrupt subsidiary Genesis. A September court filing shows that DCG owed more than $1.7 billion to Genesis and other creditors.

Logan Paul has committed $2.3M to buy back CryptoZoo NTFs. The move comes after the metaverse game concept collapsed.

Final words:

Market taking liquidity from late longs please don’t be trapped.

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
TAKE PROFIT: /
SAFETY ORDERS: /
Liquidation: /