Jake
TOP Trader

BTC:
INTRO: BTC turning back to 45k support.

Technical analysis for the BTC/USDT chart:

Key Levels:

• Resistance: $45,500, $47,100
• Support: $43,000, $45,500

Strategy:

• Long: Buy at $45,500 with a stop loss below $43,000 and a target price of $47,000.
• Short: Sell at $47,000 with a stop loss above $48,500 and a target price of $45,000.

Range description:

BTC/USDT is currently trading in a range between $43,500 and $48,000. The pair has broken into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.

On the upside, BTC/USDT is facing resistance at $47,000. The $47,000 level has been tested today, and if the price holds above on the daily close, it will be confirmed as support. A break above $47,000 would signal a bullish breakout and could send the pair higher to $48,500.

On the downside, BTC/USDT is facing support at $45,500. This level is a previous resistance for the day and now holds as support. A break below $45,500 would signal a bearish breakdown and could send the pair lower to $43,000 or even $40,000.

BTC1D chart TW link: https://www.tradingview.com/x/J7LiJwhQ/

ETH:
INTRO: ETH pushing above 2300$ and need to hold for bullish continuation.

Here is a technical analysis for the ETH/USDT chart:

Key Levels:

• Resistance: $2320, $2420
• Support: $2220, $2100

Strategy:

• Long: Buy at $2220 with a stop loss below $2100 and a target price of $2420.
• Short: Sell at $2420 with a stop loss above $2520 and a target price of $2100.

Range description:

ETH/USDT is currently trading in a range between $2100 and $2400. The pair has broken into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.

On the upside, ETH/USDT is facing resistance at $2420. 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 $2420 would signal a bullish breakout and could send the pair higher to $2520.

On the downside, ETH/USDT is facing support at $2320. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $2320 would signal a bearish breakdown and could send the pair lower to $2220 or even $2000.

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

XRP:
INTRO: XRP holding above 0.54$ and need hold up before next leg down.

Here is a technical analysis for the XRP/USDT chart:

Key Levels:

• Resistance: $0.62, $0.58
• Support: $0.54, $0.52

Strategy:

• Long: Buy at $0.54 with a stop loss below $0.52 and a target price of $0.62.
• Short: Sell at $0.62 with a stop loss above $0.67 and a target price of $0.58.

Range description:

XRP/USDT is currently trading in a range between $0.54 and $0.62. The pair has shifted into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.

On the upside, XRP/USDT is facing resistance at $0.58. 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 $0.58 would signal a bullish breakout and could send the pair higher to $0.62.

On the downside, XRP/USDT is facing support at $0.54. This level is a previous swing low and has been tested multiple times in recent weeks as significant support. A break below $0.54 would signal a bearish breakdown and could send the pair lower to $0.52 or even $0.48.

XRP chart TW link: https://www.tradingview.com/x/2PISw9tb/

LINK:
INTRO: LINK holding line at 13$.

Here is a technical analysis for the LINK/USDT chart:

Key Levels:

• Resistance: $15, $16
• Support: $13.3, $14

Strategy:

• Long: Buy at $14 with a stop loss below $13 and a target price of $16.
• Short: Sell at $15 with a stop loss above $16 and a target price of $14.

Range description:

LINK/USDT is currently trading in a range between $14 and $17. The pair has shifted into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.

On the upside, LINK/USDT is facing resistance at $15. 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 $15 would signal a bullish breakout and could send the pair higher to $16.

On the downside, LINK/USDT is facing support at $14. This level is a previous swing low and has been tested multiple times in recent weeks as significant resistance. A break below $14 would signal a bearish breakdown and could send the pair lower to $13 or even $13.

LINK chart TW link: https://www.tradingview.com/x/vSqfWmj0/

SOL:
INTRO: SOL holding line at 90$ support.

Here is a technical analysis for the SOL/USDT chart:

Key Levels:

• Resistance: $107, $120
• Support: $90, 100$

Strategy:

• Long: Buy at $100 with a stop loss below $90 and a target price of $120.
• Short: Sell at $107 with a stop loss above $120 and a target price of $100.

Range description:

SOL/USDT is currently trading in a range between $100 and $126. However, there are signs that the pair is ready to make a move to push strong resistance at $120.

On the upside, SOL/USDT is facing resistance at $107. 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 $107 would signal a bullish breakout and could send the pair higher to $126.

On the downside, SOL/USDT is facing support at $100. This level is a previous swing low and has been tested multiple times in recent weeks as significant support. A break below $100 would signal a bearish breakdown and could send the pair lower to $90 or even $80.

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

CRYPTO NEWS:

2 REASONS WHY A “BITCOIN BILLIONAIRE” THINKS A CRASH IS COMING
Life is good in the crypto hood right now.

Prices are in the green, morale is flying high, and even the skeptics are peeking over the fence to see what’s going on…
My Uncle Vinny (aka Mr. “I-Wouldn’t-Touch-Bitcoin-With-A-10-Foot-Pole”) called me yesterday asking about this “ETF thing” he keeps hearing about.

It feels great to be back on top. But be warned, this is when you need to be the most careful, or else you’ll get infected with NGUS – Number Go Up Syndrome.

This is when you get so blinded by prices that you start ignoring the counterarguments.

Well, check it out.

Arthur Hayes, one of the youngest “Bitcoin Billionaires” ever, dropped a new blog post highlighting his bear case for the next few months.

He talks about interest rate hikes, the chilling effects on the banking sector, and a whole lot of macroeconomic mumbo-jumbo that would make your Econ 101 professor proud.

Here are his predictions:

• Bitcoin will pump in the near term (mainly from ETF news).
• But, there will be a 30% to 40% downturn by early March.

His logic? A few big events are happening at the same time…

1/ The Federal Reserve’s Reverse Repo Program (RRP) balance is decreasing.

The RRP allows banks and investment firms to park cash at the Fed to earn interest.

Over the last few months, it has been a significant source of liquidity for markets. Investors withdraw funds from the RRP and invest them in other assets like stocks, bonds, and crypto.

However, the RRP balance is dwindling, and without a new source of dollar liquidity, stocks, bonds, and crypto will experience declines.

Hayes estimates the RRP balance could reach “close to zero” by March.

2/ The Bank Term Funding Program (BTFP) is set to expire on March 12.

U.S. banks were falling like dominoes last year…

To control the crisis, the Federal Reserve created the BTFP and offered one-year loans to banks and institutions.

Well, the clock is ticking, and the one-year program is set to expire in mid-March. To make matters worse, Hayes predicts the Fed won’t renew the program, meaning the banks will need to cough up money (they don’t have) to repay the loans somehow.

As a result, many of them will go bankrupt.

Trader Jake Take: Arthur Hayes is a smart dude. He’s been running miles around the crypto track while most of us are still figuring out how to tie our shoelaces…

And while there are a bunch of people in crypto who just want to hear “rah-rah-yay-everything going up,” not us.

It’s important to hear both sides of the argument.

FAST NEWS:

Gary Gensler tweeted a thread about investing in crypto assets. I don’t know what’s crazier—the fact he actually tweeted it or the fact it already has 25 MILLION views (!!).

Spot Bitcoin ETFs could bring $50B – $100B of inflows in 2024. According to Standard Chartered Bank’s estimates, the price of BTC could also rise to $200,000 by the end of 2025.

VanEck and Bitwise are prepping over $200M in advance of spot Bitcoin ETF approvals. With Bitcoin spot ETFs imminent, the financial firms are poised to inject millions into the new investment products. Someone sent $1.2 million to the Genesis wallet mined by Satoshi Nakamoto. The Genesis wallet now has a balance of almost 100 bitcoins.

More than 1 million smart accounts have been deployed. According to Alchemy, an estimated 53% of the total smart accounts deployed were created in Q4 of 2023.

Final words:

This is news market and big swifts are possible in both directions so take care of your trades.

GROW BOT UPDATE:

Copy trade GROW 0.1->10k$ since 18.03 we got +214.0% PROFIT!

GROW CURENTLY:

TRADING COIN: BTC/USDT

SETUP: SHORT

TAKE PROFIT: /

SAFETY ORDERS: /

Liquidation: /

Not Financial Advice!
Good luck with trades,
JAKE