Dollar losing momentum would cause the crypto market to pump and break through significant resistance.

03.11.2023

Dear traders,

BTC’s fakeout over 35k and subsequent push back into the zone will be dependent on the weakening of the dollar to bring the price up.

Jake
TOP Trader

BTC has pushed back into the channel after the false breakout and still requires strong buying power to sustain an upward push. Currently, the market remains bullish on BTC, but breaking the strong 35k resistance is necessary.

ETH is currently facing substantial resistance at $1,830. To sustain its bullish trend and return to the $1,900 range, it needs to break above this level. Caution should be exercised if a significant volume of selling pressure pushes the price lower.

XRP is strongly pushing towards the $0.62 resistance, creating bullish momentum for a potential breakout. It maintains strong bullish momentum and is preparing for a significant upward move.

LINK aims to break the resistance at $11.5 and make a significant upward push. Sustaining levels above $9.5 is crucial for significant bullish momentum.

SOL has pushed back from a significant resistance and is currently trading below $41, aiming for a strong push up and increased buying volume. However, it is still in danger of being pushed back into the trading channel and retesting support.

EOS pushed strongly towards the $0.662 resistance and then began to retreat significantly. It still requires a significant increase in buying volume to push upwards.

LTC is currently breaking through the $70 resistance level. Only a push above it, combined with holding that level, could drive the price higher. There is still a risk if the price doesn’t stay above $70.

DXY has strongly pushed back from resistance and is currently pushing down strongly towards 105, indicating a bearish continuation.

Crypto/stock daily news:

SAY HELLO TO TOKENIZED GOLD

HSBC is one of the largest banks in the world. In fact, it has more total assets (~$3T) than any other European bank. #bigballer

Well, HSBC just made a big move… it’s tokenizing gold.

HSBC is tokenizing some of the physical gold held in its London vault
The physical gold will stay in the vault, but HSBC will create a digital twin using distributed ledger technology (DLT)
Institutional clients will be able to trade the assets on the HSBC Evolve platform – a new trading platform for FX and precious metals
1 token = 0.001 Troy ounces (No idea wtf that is, but Troy was a damn good movie. So I’m on board with it…)

Why this matters: Tokenized gold has quietly grown into a ~$1.1B market.

While HSBC isn’t the first bank to jump into the space… it’s the biggest.

And as more well-known names enter the space, more people will get comfortable experimenting with tokenized gold and other real-world assets (RWA’s).

It’s still early, but it’s a trend everyone should keep their eyes on.

FAST NEWS:

ArDrive brings the power of blockchain to data storage. Decentralized, immutable, private, and pay as you go. Your keys, your data.*

The SEC charged crypto firm SafeMoon, its founder, and executives for an alleged $200 million fraud. According to the SEC complaint, SafeMoon and its leaders falsely promised investors they would safely lock liquidity pool funds, but instead stole millions to fund lavish lifestyles.

PayPal successfully registered with the UK’s Financial Conduct Authority (FCA) as a crypto service provider. The status permits PayPal to engage in “certain cryptoasset activities” under the FCA’s anti-money laundering rules.

FTX’s bankruptcy estate has transferred close to $127.5 million of digital assets over the past few days. The assets include ETH, SOL, and a few other altcoins.

Adidas is teaming up with Bugatti to auction a limited number of “phygital” soccer shoes. There will be 99 physical shoes with Bugatti-themed designs, and each one will have a digital twin.

Coinbase’s crypto futures trading is now eligible to retail U.S. customers. U.S. degens futures trading.