Is the market ready for the next big move? Will Friday bring a turnaround?

28.07.2023

Dear traders,

The market is slowing down and preparing for the next big move. Will it happen today?

Jake
TOP Trader

BTC is still holding above the 50MA and the $29,100 support level, and now trying to break resistance at $29,500. However, it remains in bearish danger for the next big drop.

ETH is currently trading at a critical breakpoint of $1830, with $1870 acting as resistance. A break below this level may push the price lower, with bearish momentum potentially driving it further down. It needs to hold above $1870 for a bigger push.

XRP is trading at $0.7 and still not showing bullish momentum. If the price holds at this level, it could present a great long entry point, potentially leading to a substantial push upward. However, it remains in danger until any bearish market news clears.

LINK is breaking bullish and now attempting to break $8 resistance before the next big move. This presents a great entry point for long positions and offers an attractive long-term buying opportunity.

SOL is showing bullish momentum and is currently trading at the mid $25 range, indicating a possible bigger push up. Still, it’s a good spot for long-term buying.

EOS received a possible bounce signal, which is bullish, and there is a big possibility of a strong push upward. It remains a good option for long-term buying, but breaking the resistance requires a significant push.

LTC is still fighting to hold the support level at $88, providing an attractive entry point for long-term buying. Additionally, in 10 days, LTC will undergo a halving event, which is expected to result in a notable price increase due to a reduction in mining supply. This presents an excellent long-term investment opportunity!

The DXY is breaking bullish, with the next target at 102.

Crypto/stock daily news:

BILLIONAIRE INVESTOR: “BITCOIN WILL RISE ABOVE FIAT”

Tim Draper is a legend in the investment world.

He’s a billionaire VC who invested in companies like Coinbase, Twitch, Tesla, and Twitter. (we ain’t callin’ it “X” around here)
He purchased 30,000 BTC from the U.S. government after it had been seized from Silk Road back in 2014.
He started his own school, Draper University.

He’s the cool, rich uncle everyone wishes they had.

Well, Tim just did an interview on Fox and had a few interesting things to say:

1/ Bitcoin is going through the same curve the internet did.

Tim says the early days of the internet were a battle.

The government thought about taxing internet usage. Others wanted to ban it altogether.

Users were also very skeptical about using the internet. Some were scared of putting their credit card info on it while other people just struggled to get their internet to work in the first place.

(if you’re old enough to remember dial-up internet, you know the pain and can probably hear this picture…)

Fast forward to today, the internet isn’t banned or taxed and instead, it’s become an important part of our everyday lives.

Tim thinks the same thing will be true of Bitcoin.

2/ “Bitcoin will not only rise above other cryptos, but it will also rise above fiat”

Tim believes Bitcoin is just a better & safer technology than the current fiat systems in the world.

He says having a centralized government in charge of currency is inefficient and eventually the rest of the world will realize this.

Once they do, they’ll wanna hop on the Bitcoin Bus.

Tim ended the interview by saying he believes this is the most exciting decade we’ll ever see in our lifetimes. (and he’s seen a lot of decades)

Bitcoin and crypto are transforming the way currency and commerce are done.

While other tech like A.I. is transforming how jobs and education are being done.

We’ll cheers to that, T-Dog.

*queue What A Time To Be Alive by Drake*

FAST NEWS:

Backers dropped the Little Legends charitable NFT project this week. Partnered with Shoes That Fit, holders benefit from unique NFTs, private events, and rewards and get to help provide sneakers to those in need.**

Facebook’s metaverse division recorded $3.74B in losses during Q2. Losses this year now total $7.7B. Ouch.

A multi-billion dollar private banking firm in Spain launched a new crypto fund. A&G has $14B in assets under management and says its new fund will be open to professional investors.

Deloitte and Chainalysis are teaming up to help other crypto companies handle compliance challenges. They’ll combine blockchain tech and data analytics software to develop risk management technology solutions and services for crypto companies.

Lacoste is launching a new virtual store for its NFT-based loyalty program. NFT holders will be able to shop exclusive apparel and can participate in a scavenger hunt for weekly prizes.