DUMP and PUMP in action.

07.06.2023

Dear traders,

After bad news about crypto exchanges price fast drop and fast push up and kill all shorts and longs.

Jake
TOP Trader

BTC push up hard after big drop and hit old resistance at 27.200$ and now make push down to 26.500$ what is healty retest of push up. Next long target is 32k$ and short target is 23k$.

ETH strongly push up to 1900$ and now trading under 1850$ support. It need to re gain 1850$ if bullish momentum is wanted.

XRP retest resistance at 0.54$ and now trading at 0.51$. If support hold above 0.5$ we could see bigger push up.

LINK drop bearish and push down under 6$ and show no bullish structure to regain power. Still good for bigger push up.

SOL, show bearish structure and drop under 19$ now aming for 18.6$ as next support. Need to hold it or bigger dup is on.

EOS hit strongly resistance at 0.89$ and show no strength for break up. Still bigg support is 0.86$ what is clear strong support.

LTC make strong push to 90$ and now show bearish momentum and retest of push up. However, in 50 days, there will be a halving event in LTC, which suggests a considerable price increase due to the reduction in mining supply. This presents a great investment opportunity to hold!

The DXY is still struggling with the 104.3 resistance, and once it breaks, it could push strongly towards 105 and even higher.

Crypto/stock daily news:

WHAT’S NEXT FOR CRYPTO?

What. A. F*cking. Week. (and it’s only Wednesday)

After everything that’s happened, everyone is probably wondering two things this morning:

Is it too early to put some liquor in my coffee? (it’s 5 o’clock somewhere, right?)

What’s next for crypto?

Well, let’s talk about it.

First off, buckle up. This is only the beginning of the U.S. Crypto Regulation War.

Yes, it’s a war.

On one side: the U.S. government. (boo!)

On the other side: the crypto industry.

And just like any war, there’s always a secret operation like…Desert Storm. Cobra. Rolling Thunder.

In this war, the U.S. government is implementing Operation Chokepoint 2.0.

It’s a similar strategy the U.S. government used back in 2013 (in the original Operation Chokepoint) when it targeted businesses like online gambling, firearm sellers, etc.

The strategy: Launch investigations into these “bad” businesses, file tons of massive lawsuits, and target their banking partners until the bad businesses get choked out.

So far this year, we’ve seen:

The biggest crypto exchanges – Binance, Coinbase, Kraken, etc – get sued by the SEC, CFTC, or another agency from the alphabet soup.

Crypto’s three biggest banking partners – Silvergate, Signature, and SIlicon Valley Bank – get shut down or seized by the government. R.I.P to our fallen homies..

Paxos, the issuer for BUSD (3rd biggest stablecoin in the world), get sued and forced to stop issuing its stablecoin.

Tons of celebrities (and my childhood heroes) like Soulja Boy, Akon, Ne-Yo, and more get sued for promoting crypto projects.

We fully expect to see more moves like this in the near future.

How do we know? Because U.S. government officials are telling us to expect it. Literally.

Here’s what Gary Gensler (head of the SEC) said yesterday on CNBC:

Gary G: “Look, we don’t need more digital currency. We already have digital currency. It’s called the U.S. dollar. It’s called the euro. It’s called the yen. They’re all digital right now.”

On top of that, U.S. Senator Elizabeth Warren is building an “anti-crypto army” and is looking to propose a bill that would effectively ban crypto in the U.S. gulp

So yeah, don’t be surprised if U.S. government officials start chasing crypto like it was the modern-day O.J Simpson.

With all that being said, there are a few options for what happens next:

Option A: Crypto gets banned in the U.S., and slowly dies off.

Option B: Crypto gets banned in the U.S., but thrives elsewhere.

Option C: Crypto doesn’t get banned in the U.S., but gets heavily regulated.

Who knows what the hell happens, but we do know one thing…

Crypto doesn’t need the U.S government’s approval to succeed. In fact, that’s the whole point of crypto.

It was built as an alternative financial system. One where a centralized government can’t control or censor it.

So now that a centralized government is attacking crypto and calling it bad, what are we gonna do..put our tail between our legs, call it quits, and cry like a Gerber baby??