Interest rate decision: Will it pump hard?

14.06.2023

Dear traders,

Today’s interest rate decision is expected to bring about significant volatility. The outcome could potentially lead to a breakout or a downturn in the price of BTC.

Jake
TOP Trader

BTC is currently trading at 26k and is consolidating before its next major push. The bullish target is 28k, with a potential continuation to 30k. On the other hand, the bearish scenario suggests a drop to 25k, possibly continuing down to 23k. In the next 24 hours, we will have a clearer indication of the direction in which the cryptocurrency market is heading.

ETH is holding above $1,730 but lacks significant strength for a substantial upward movement. It needs to maintain its support level, or else we may witness new lows in the near future. The bullish target is set at $1,900, while the bearish target is at $1,650 and below.

Following a significant liquidity hit and subsequent drop, XRP is currently trading at a support level of $0.5. A bullish breakout could potentially push the price up to $0.6, whereas a bearish scenario suggests a drop to $0.41.

LINK is holding well above $5 and exhibits momentum for its next upward push. This presents a favorable opportunity for dollar-cost averaging (DCA) in anticipation of a larger upward movement.

SOL is struggling against the $15 resistance level and shows no signs of strength for its next upward push. Depending on today’s news, we may see new low targets or a significant push up to $20. This provides an excellent buying opportunity for long-term investors.

EOS has managed to hold above $0.66 but lacks strength for a major upward movement. However, it remains a favorable entry point for dollar-cost averaging and potential buying opportunities.

LTC is currently not showing strength, and the $78 resistance level indicates further downward pressure, especially if negative news emerges. It is currently displaying no signs of strength, and a drop to $70 seems imminent. However, in 40 days, there will be a halving event in LTC, which suggests a substantial price increase due to the reduction in mining supply. This presents an excellent investment opportunity for the long term!

DXY has experienced a significant drop, falling below 103, and continues to lack strength. The next support level is at 102.5, which needs to hold to prevent further decline.

Crypto/stock daily news:

THE U.S. IS LOSING THE CRYPTO RACE

Countries want one thing: to be the crypto hub of the world.

It’s a global race. And there’s gonna be winners… and losers.

Let’s take a look at the contenders:

1/ The U.S.

It’s cracking down harder on crypto than my mom did on me after I stole from her vodka stash in the 10th grade.

The SEC sued Binance & Coinbase, everyone’s leaving for greener, foreign pastures, and 50% of BTC on U.S.-based exchanges has left for ones overseas. Folks are spooked…

2/ The U.K.

Our friends across the pond are reaping some of the benefits of that though – a16z just announced it’s setting up shop there.

That’s partly because the UK’s Prime Minister is pro-crypto – the Royal Mint, for example, dropped an NFT for sale in March.

3/ Hong Kong

China may be on the fence about crypto, but Hong Kong’s going all in.

Just opened crypto trading to retail investors

Invited Coinbase to apply for an exchange license there

Has had a bunch of crypto companies apply to set up shop there

Not too shabby.

4/ Dubai

It has (heads up, here comes the “R” word) regulations when it comes to the crypto space. Clear rules for companies that want to operate there = muy bueno.

Everyone & their mother wants a slice of the market: Crypto.com and Coinbase have applied for a license. And Binance has been there for a while now.

Plus, they are building a cool-ass Bitcoin tower there…

The Results: We don’t know who’s gonna win, but we do know who’s losing…

The U.S.

It’s fixing to learn the hard way how a lack of clear crypto laws will put it behind.

FAST NEWS:

A federal judge ruled in favor of the CFTC’s belief that a DAO (decentralized autonomous organization) is “a person.” Watch out DAOs…

Sturdy Finance (DeFi lending protocol) got hacked for $800K. Another day, another attack

Tether issued 1B USDT tokens in the Ethereum blockchain. They’re permitted but unissued, meaning they’re for future swap requests.

House Republicans filed a bill to fire Gary Gensler and restructure the SEC. This is textbook “f*ck around and find out”.

Final words:

Today is interest rate decision and for now it is looking bullish and ready for next leg up. But be aware that crypto is losing strength and falling down about stock market.

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