Dear traders,

Jake
TOP Trader

 

BTC:
INTRO: BTC broke above the 40k resistance and is now encountering stronger upward momentum in the coming days, aiming for the next resistance at 44k. A significant bullish breakout is still in play for the coming month if 37k and above holds.

Here is a technical analysis of the BTC/USDT chart:
Key Levels:
• Resistance: $41.500, $44,000
• Support: $38,500, $35.000
Strategy:
• Long: Buy at $38,500 with a stop loss below $37,000 and a target price of $41,500.
• Short: Sell at $41,500 with a stop loss above $42,500 and a target price of $38,500.

Range Description:

BTC/USDT is currently trading in a range between $38,500 and $42,500. 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 $41,500. 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 $41,500 would signal a bullish breakout and could send the pair higher to $44,000.

On the downside, BTC/USDT is facing support at $38,500. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $38,000 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/4yUdyUS0/

 

ETH:
INTRO: ETH broke 2100$ and now it holds as support, also price continues to push to 2320$ which is the next big resistance before bullish continuation.

Here is a technical analysis of the ETH/USDT chart:
Key Levels:
• Resistance: $2320, $2420
• Support: $2100, $2000
Strategy:
• Long: Buy at $2100 with a stop loss below $2000 and a target price of $2220.
• Short: Sell at $2300 with a stop loss above $2420 and a target price of $2100.

Range Description:
ETH/USDT is currently trading in a range between $2100 and $2300. 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 $2320. 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 $2320 would signal a bullish breakout and could send the pair higher to $2420.

On the downside, ETH/USDT is facing support at $2100. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $2100 would signal a bearish breakdown and could send the pair lower to $2000 or even $1900.

ETH1D chart TW link: https://www.tradingview.com/x/mZgL5vPP/

 

XRP:

INTRO: XRP still fights with 0.62$ resistance and needs to break it for full bullish confirmation. There is still a lack of buy volume for push-up.

Here is a technical analysis of the XRP/USDT chart:
Key Levels:
• Resistance: $0.62, $0.67
• Support: $0.58, $0.54
Strategy:
• Long: Buy at $0.58 with a stop loss below $0.54 and a target price of $0.62.
• Short: Sell at $0.62 with a stop loss above $0.65 and a target price of $0.58.

Range Description:
XRP/USDT is currently trading in a range between $0.58 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 $0.62. 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 $0.62 would signal a bullish breakout and could send the pair higher to $0.67.

On the downside, XRP/USDT is facing support at $0.58. This level is a previous swing low and has been tested multiple times in recent weeks as big support. A break below $0.58 would signal a bearish breakdown and could send the pair lower to $0.54 or even $0.5.

XRP chart TW link: https://www.tradingview.com/x/g2PYox62/

 

LINK:

INTRO: LINK still fights with 16$ resistance and needs to break it for full bullish confirmation. Now in bullish formation for a bigger push-up if 15$ support holds.

Here is a technical analysis of 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 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 $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 big 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/l8xVzynN/

 

SOL:

INTRO: SOL still fights with 61$ resistance and needs to break it for full bullish confirmation. Now in bullish formation for bigger push up if daily close above 61$.

Here is a technical analysis of the SOL/USDT chart:
Key Levels:
• Resistance: $61, $63
• Support: $58, $56.5
Strategy:
• Long: Buy at $58 with a stop loss below $56.5 and a target price of $61.
• Short: Sell at $61 with a stop loss above $63 and a target price of $58.

Range Description:
SOL/USDT is currently trading in a range between 58$ and 63$. However, there are signs that the pair is ready to make a move with possible retest of support.

On the upside, SOL/USDT is facing resistance at $63. 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 $63 would signal a bullish breakout and could send the pair higher to $65.5.

On the downside, LINK/USDT is facing support at $58. This level is a previous swing low and has been tested multiple times in recent weeks as big support. A break below $58 would signal a bearish breakdown and could send the pair lower to $55 or even $51.7.

SOL chart TW link: https://www.tradingview.com/x/wtw9HwU6/

 

CRYPTO NEWS:

CRYPTO VENTURE FUNDING HIT $1B+ LAST MONTH

 Over $1B was raised by blockchain/crypto companies in November. That’s a 6-month high and the 3rd highest monthly total this year.

*firm handshakes all around*

Here are some cool projects that recently raised money:

Wormhole raised $225M to allow different blockchain networks to communicate with each other. The cross-chain protocol now has a $2.5B valuation.

Finality raised $95M to tokenize major fiat currencies. The blockchain payments firm creates tokenized versions of fiat currency backed by cash held at central banks like BNY Mellon, Banco Santander, Barclays, etc.

Blast raised $20M to develop a new Layer 2 blockchain. Early access to the blockchain went live on Nov. 20 and already has $600M+ in total value locked (TVL).

Privy raised $18M to build blockchain-based tools for startups. Paradigm, Sequoia Capital, Blue Yard, Archetype, and a few angel investors threw in money during the funding round.

OCEAN raised $6.2M to create a decentralized Bitcoin mining pool. The funding round was led by Jack Dorsey (the guy who created Twitter and is so rich he did that thing where billionaires grow a crazy beard to look semi-homeless).

 

 MIDDLE SCHOOLERS ARE LEARNING ABOUT BITCOIN 

 Check it out. 6th graders in Belgium are learning about Bitcoin in school…

Pretty impressive.

In 6th grade, I was learning how to sing the U.S. states in alphabetical order. (?Alaaabama, Alaska, Arizona, Arkansas, California, Colorado…. Connecticut! ?)

Good to see kids are learning about something more valuable nowadays, like Bitcoin.

 

FAST NEWS:

• The first of 3 Streamr Network 1.0 incentivized testnets is open with 5 million DATA tokens to be distributed to node Operators and Delegators starting from Monday. It’s a great time to join the next-gen decentralized data network!*

• $343M was lost to crypto hacks and fraud cases last month. It’s the highest monthly crypto losses of the year and up 15x from October. gulp

• The open interest in Bitcoin long futures held by asset managers on the Chicago Mercantile Exchange (CME) has reached an all-time high. The current open interest value is ~$2B; up from $1.04B at the end of October.

• A U.S. bankruptcy court has given FTX debtors the green light to start selling some of its trust assets. This includes $744M worth of Grayscale and Bitwise shares.

• Binance announced its ending support of BUSD stablecoin next month. R.I.P. to another fallen crypto stablecoin.

• Uniswap Labs is teaming up with Talos to bring decentralized finance (DeFi) liquidity to institutional traders. Uniswap Labs will provide its Trading APIs to Talos’ clients.

 

Final words:
Monday opened in green and bullish sentiment came back to market.
Also after 1 year of blog posting by Top Trader Jake, we are happy to announce that we have upgraded the BLOG post with more information and trading setups!
Please send us a message about 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 CURRENTLY:

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