BTC test support and make new ATH.

13.03.2024

BTC test support and make new ATH.

The altcoin market is ready for a bigger push-up.

Jake
TOP Trader

BTC:
INTRO: BTC pushing above 70k$.

Technical analysis for the BTC/USDT chart:

Key Levels:

  • Resistance: $75.000,$72.500
  • Support: $69,000, $67,200

Strategy:

  • Long: Buy at $69,100 with a stop loss below $65,000 and a target price of $75,000.
  • Short: Sell at $75,000 with a stop loss above $77,500 and a target price of $69,000.

Range Description:

BTC/USDT is currently trading in a range between $67,000 and $73,000. 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 $73,000. 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 $73,000 would signal a bullish breakout and could send the pair higher to $80,000.

On the downside, BTC/USDT is facing support at $48,500. This level was a previous resistance during the day and is now holding as support. A break below $48,500 would signal a bearish breakdown, sending the pair lower to $45,000 or even $42,000.

BTC1D chart TW link: https://www.tradingview.com/x/2MxF2cVg/

ETH:
INTRO: ETH running into 4000$.

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

Key Levels:

  • Resistance: $4000, $3800
  • Support: $3700, $3600

Strategy:

  • Long: Buy at $3700 with a stop loss below $3600 and a target price of $4000.
  • Short: Sell at $4000 with a stop loss above $4100 and a target price of $3800.

Range Description:

ETH/USDT is currently trading in a range between $3,800 and $4,000. 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, ETH/USDT is facing resistance at $4,000. This level hasn’t been tested today, and if the price holds above it on the daily close, it will be confirmed as support. A break above $4,000 would signal a bullish breakout and could send the pair higher to $4,100.

On the downside, ETH/USDT is facing support at $3,800. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $3,800 would signal a bearish breakdown and could send the pair lower to $3,700 or even $3,600.

ETH1D chart TW link: https://www.tradingview.com/x/hRo2X7oU/

XRP:
INTRO: XRP pushing new high 0.70$.

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

Key Levels:

  • Resistance: $0.70, $0.67
  • Support: $0.62, $0.64

Strategy:

  • Long: Buy at $0.67 with a stop loss below $0.62 and a target price of $0.78.
  • Short: Sell at $0.72 with a stop loss above $0.74 and a target price of $0.62.

Range Description:

XRP/USDT is currently trading in a range between $0.62 and $0.72. 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 $0.70. 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 $0.70 would signal a bullish breakout and could send the pair higher to $0.72.

On the downside, XRP/USDT is facing support at $0.67. This level is a previous swing low and has been tested multiple times in recent weeks as significant support. A break below $0.67 would signal a bearish breakdown, sending the pair lower to $0.62 or even $0.60.

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

LINK:
INTRO: LINK pushing above 20$.

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

Key Levels:

  • Resistance: $20
  • Support: $17.6

Strategy:

  • Long: Buy at $17.6 with a stop loss below $17 and a target price of $20.
  • Short: Sell at $20 with a stop loss above $21 and a target price of $17.6.

Range Description:

LINK/USDT is currently trading in a range between $17 and $20. 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, LINK/USDT is facing resistance at $20. 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 $20 would signal a bullish breakout and could send the pair higher to $22.

On the downside, LINK/USDT is facing support at $17.60. This level is a previous swing low and has been tested multiple times in recent weeks as significant resistance. A break below $17.60 would signal a bearish breakdown and could send the pair lower to $17 or even $16.

LINK chart TW link: https://www.tradingview.com/x/fwJlYyx5/

SOL:
INTRO: SOL pushing to 150$ resistance.

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

Key Levels:

  • Resistance: $135, $126
  • Support: $120, 107$

Strategy:

  • Long: Buy at $120 with a stop loss below $100 and a target price of $130.
  • Short: Sell at $100 with a stop loss above $ 107 and a target price of $90.

Range Description:

SOL/USDT is currently trading in a range between $120 and $140. However, there are signs that the pair is ready to make a move to push against strong resistance at $150.

On the upside, SOL/USDT is facing resistance at $135. 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 $135 would signal a bullish breakout and could send the pair higher to $150.

On the downside, SOL/USDT is facing support at $120. This level is a previous swing low and has been tested multiple times in recent weeks as significant support. A break below $120 would signal a bearish breakdown and could send the pair lower to $100 or even $90.

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

CRYPTO NEWS:

ETHEREUM’S BIG UPGRADE IS ON!

1/ First of all… What’s up with the name? Why ‘Dencun’?

I know. It sounds like a 3-year-old trying to say “Dunkin’ Donuts” for the first time.

But it’s a mix between two upgrades happening simultaneously…

  • Deneb: The upgrade on Ethereum’s consensus layer.
  • Cancun: The upgrade on Ethereum’s execution layer.

Deneb + Cancun = Dencun.

P.S. – If you get confused between the two names, just remember… Potato. Potahto. It’s the same thing!

2/ OK, so what is it? What’s it supposed to do?

Dencun is the first major Ethereum upgrade since The Merge.

The goal is to improve the blockchain’s scalability, efficiency, and security.

3/ How?

Through something called Ethereum Improvement Proposals (EIPs). Think of them as small tweaks to the network.

In total, 9 different EIPs will go into effect during the Dencun upgrade.

The most important one is EIP-4844:

  • It introduces something called “proto-dank sharding.”
  • This allows Ethereum Layer 2 networks (L2s) to use a new transaction type called “blobs” – which temporarily store large amounts of data more cost-effectively.
  • The upgrade will significantly reduce transaction fees on L2s – like Optimism, Arbitrum, Polygon, Base, etc.

For all my visual people out there, here’s a quick “Before vs. After”:

4/ So what? What’s the big deal?

  • For users: It significantly reduces the fees to use Ethereum L2s.
  • For crypto projects: It makes Ethereum more attractive to build on.

It can all be boiled down to this… less fees paid = more money to be made.

5/ What’s next?

If you’re an Ethereum user or ETH investor… you don’t need to do anything!

Just sit back, relax, and wait for the magic to happen.

WARNING: Beware of Stranger Danger.

If someone messages you saying you need to do something (i.e. bridge your ETH, download a file, etc.)… it’s likely a scam! Run!

FAST NEWS:

BTC surpassed silver to become the 8th largest asset by market cap. In the words of the great Ludacris… “Move b*tch, get out the way.”

The London Stock Exchange will start accepting applications for BTC and ETH crypto exchange-traded notes (ETNs) soon. Similar to crypto ETFs in the US, ETNs let investors trade securities that track their underlying crypto assets on the London Stock Exchange.

MicroStrategy bought another 12,000 BTC, worth ~$821M. The Bitcoin-loving software company now owns 205,000 BTC, worth ~$15B (!!)

Solana just registered an all-time high for daily new addresses. According to data from The Block, 691K new addresses have been created over the last week.

Bitcoin miners now hold 1.82M BTC (worth $131B) in their treasuries. It’s the highest U.S. dollar value on record.

The GameFi market has outperformed the rest of the crypto market over the last 24 hours. The total value of tokens associated with web3 gaming now stands at $32.7B.

$104M has been lost to crypto phishing attacks this year. This includes $57.7M lost in January and $46.8M lost in February. Ouch.

Final words:

Supports are retested lets push price up.

GROW BOT UPDATE:

Copy trade GROW 0.1->10k$ since 18.03.23 we got +219.0% PROFIT!

GROW CURENTLY:

TRADING COIN: BTC/USDT

SETUP: SHORT

TAKE PROFIT: /

SAFETY ORDERS: /

Liquidation: /

Not Financial Advice!
Good luck with trades,
JAKE