Dear traders,
Crypto pump weekend: Will it hold and continue to stay green?
Jake
TOP Trader
BTC has broken above the resistance at $26,100 and needs to surpass $26,800 for a bullish
breakout of the downtrend. It is still facing significant resistance, and new lows are still a possibility.
ETH has returned to the channel and is currently trading at $1730, which serves as a support for the
next leg up. However, there is still a risk of new lows if $1700 does not hold as strong support. The
strong downtrend persists, and weekend pumps often result in subsequent dumps.
XRP is displaying strength and bullish continuation while currently holding just below $0.5, which
acts as resistance. There is potential for a breakout above $0.5 and an upward push in the uptrend.
LINK is still holding above $5 after a significant drop. If it continues to decline below the green
line, we may witness a quick wick-fill and reach the $4.7 support level. This presents a favorable
opportunity for dollar-cost averaging (DCA) in anticipation of a larger upward movement.
SOL is demonstrating a bullish push and has reached $16, but it remains within a substantial
bearish downtrend. This push could increase the price, but if momentum is lost, we may observe a
rapid wick-fill.
EOS is gradually filling the wick and is currently trading at $0.62, displaying no momentum for a
significant upward push. It is still in a bearish downtrend with low volume.
LTC is trading below the resistance at $78 and is not showing any strength for the next leg up.
However, in 40 days, there will be a halving event in LTC, which suggests a substantial price
increase due to the reduction in the mining supply. This presents an excellent long-term investment
opportunity!
The DXY is showing a minor recovery and needs to surpass 102.5 for a larger upward push.
Crypto/stock daily news:
STATE OF CRYPTO FUNDING
It’s been a rough time for crypto investors of all shapes and sizes.
Even the big kahunas of investing (VC funds) are struggling to raise money.
As of last month, eight venture capital crypto funds raised a total of $500M for the year. Yes. That sounds like a lot, but…
It’s a drop (of a tear) in the bucket compared to last year when crypto VCs raised a total of $21.6B.
But in times like these, it’s important to remember one thing…
JAKE Rule #71: Don’t be Mr. Market. Be Bob the Builder.
To show you why, let’s hit rewind and take a trip down memory lane.
Let’s say it’s 1999, and you’re excited about this “internet” thing.
But then the 2000 dotcom crash happened. Companies shut down. Investors lost money.
It was DEFCON 1 in the tech world. Lots of people left the industry and evacuated for safety.
But in doing so, they missed out on a once-in-a-generation opportunity to build stuff like social networks, cell phones, cloud computing, etc.
The people that stuck around ended up building the future we know and live in today.
They built billion-dollar companies. Made hundreds of millions of dollars in the process.
Short-term pain, long-term gain.
So, don’t let the lack of funding or price drops kill your enthusiasm.
Today, we’re gonna show the “Bob the Builders of the Week.” These are crypto companies that have continued to build through the tough times.
ResearchHub got $5M to build a tokenized social network for scientists. It rewards scientists for openly sharing scholarly content.
BoomFi got $3.8M to create a crypto payments platform. It’s an all-in-one solution to send, accept, and convert crypto payments.
Mnemonic got $6M to develop an NFT intelligence platform. It provides NFT data, analytics, and insights all through easy-to-use APIs.
FAST NEWS:
Tether’s USDT stablecoin depended on slightly from the U.S. dollar yesterday. Its balance on Curve
3Pool (the leading stablecoin trading pool) increased to 70%.
BlackRock has filed an application for a Bitcoin ETF. You’ve been watching what’s going on with
Grayscale, right, Larry Fink?
Binance.US laid off some of its staff, citing a “costly litigation process” after the SEC sued the
exchange. About 50 positions were reportedly affected.
Crypto trading volumes in Q2 hit yearly lows with so much regulatory uncertainty and
enforcement going on. Average daily volumes were ~$10B, versus $18B in Q1.
Final words:
This week we have FED Powells speech and no other big events, so it could be a slow week before the next push-up/down.
Copy trade GROW 0.1->10k$ since 18.03 we got +60% PROFIT!
You can check my trading web page with lots of trading information.
Be my guest!
https://t.me/+rBI2IFMrLUhmOTJi
Sentiment Is now BULLISH and real test for bulls are this week.
Not Financial Advice!
Good luck with trades!
Author
Jake
TOP Trader
