Dangerous deviation to capture longs are in play!

16.11.2023

Dear traders,

Watch out for dangerous deviation; capturing long orders above the resistance price could lead to a strong pushback.

Jake
TOP Trader

BTC has pushed strongly above the monthly resistance and is now encountering strong resistance. This situation could trap long orders and result in a continued drop. Exercise caution with your trades.

ETH is pushing from a strong resistance, currently retesting $1900 as support. There is still a risk of a larger drop if the $2000 resistance holds strong.

XRP is losing momentum and retracing back into the $0.62 channel. It requires a strong push with increased buying volume to drive the price upward. However, $0.67 poses as a formidable resistance, and a break above it will signal bullish continuation.

LINK is currently retesting $15 as a resistance level after a significant breakout. It’s crucial for it to hold this level on the daily chart for a bullish continuation.

SOL is experiencing a strong bullish momentum after breaking the $57 resistance, indicating potential for a significant upward push.

EOS broke above the $0.7 resistance and is now preparing for a bigger push up to $0.79 if it manages to hold in the $0.7 trading zone.

LTC has broken through a strong resistance at $70 and is now ready for a bigger price push, returning to a bullish channel.

The DXY, after falling due to the decline in US inflation, may find possible support at 104.3.

Crypto/stock daily news:

DISNEY IS LAUNCHING AN NFT MARKETPLACE

There’s a new NFT marketplace coming soon… Disney Pinnacles.

Here’s everything you need to know:

Disney is partnering up with Dapper Labs (the creator of NBA Top Shot and CryptoKitties) to launch the NFT trading platform.

It will be built on the Flow blockchain.Disney is creating “digital pins” that users can buy, sell, and trade (these are similar to the Disney’s OG physical pins).

The digital pins will include famous Disney characters like Buzz Lightyear, Woody, Darth Vader, and other icons from Pixar and Star Wars.

Disney Pinnacle will go live on the Apple App Store and the Google Play Store later this year.

So is this the next big thing or the next big failure? I’ll give you 3 reasons it could be successful.

1/ It’s mobile-friendly.

Unlike most other NFT marketplaces, Disney Pinnacle was built for mobile devices.

(And remember, the 3 most common words people say when leaving the house are: PHONE, keys, & wallet. No one says, “Oh, let me make sure I have my PC and monitor in my pocket…”).

A mobile-friendly NFT marketplace = more accessibility for everyday users.

2/ It doesn’t use any of the crypto-lingo-my-mom-wouldn’t-understand.

NFTs. Blockchains. Smart contracts. These are all common terms in the crypto world.

Well, they also common-ly leave my mom confused as f*ck whenever she hears them.

The good news? Disney’s new marketplace doesn’t use any of them.

No mention of NFTs. No mention of blockchains. Nada. Zip. Nothing.

All the user sees is a “digital pin”, inside an app on their phone. Super simple.

(Btw, this is something we call the “crypto mullet strategy” – it looks normal in the front and gets funky in the back).

3/ Disney “pin trading” has been around for decades.

Disney released its physical pins back in 1999. If you’ve ever been to one of their theme parks, you’ve probably seen ‘em.

They’re everywhere…

There are even a few online communities that have thousands of members in them. (For example, this “DisneyPin” subreddit group has 19.6K traders in it).

The crazy part? Some of these physical pins have sold for thousands of dollars.

Clearly, there’s a market for it.

We’ll have to wait and see if the same success translates over to these new digital pins.

FAST NEWS:

Germany’s Commerzbank receives a crypto custody license. Making it the first German full service bank to receive regulatory approval for digital asset services.

The U.S. Consumer Price Index (CPI) remained flat in October. It beat economist forecasts for a rise of 0.1%. The core rate rose just 0.2%, beating expectations for 0.3%.

“Mutant Ape Planet” NFT developer has pleaded guilty to defrauding investors. The dev created a knock-off Mutant Ape Yacht Club NFT collection that netted $3M and then rug-pulled the entire project.

Circle’s Cross-Chain Transfer Protocol (CCTP) will go live at the end of the month. The new on-chain program will facilitate cross-chain transfers for the USDC stablecoin.