Dear traders,

BTC hunted for stop loss at 30k and is now continuing to drop. This is a significant market manipulation in both directions. A big wick is still loading, and it is expected to happen in the coming days.

ETH is currently trading at a breaking point of $1,830, and a larger drop is still possible as the market experiences a slowdown in volume.

XRP is trading at a critical support level of $0.67, which is expected to hold for the next leg up. If the support fails, the price may be strongly pushed towards the $0.5 level, which acts as strong support.

LINK pumped from support at $7 and now a bigger push down is expected. However, it remains a good long-term buying option.

SOL hit strong resistance at $24 and is now potentially pushing back with a big dump possibility. However, it is still at risk of a bigger drop before the next push up.

EOS is nearing the $0.7 support level and requires a stronger buying push to break the resistance above $0.79. It remains an attractive spot for a long-term buying option.

LTC is still testing the $88 breaking point, and there is a possibility of a bigger push down before the next leg up. The halving event presents an excellent long-term investment opportunity!

DXY is breaking bullish and is now hunting for 103 as the next resistance.

Crypto/stock daily news:

JULY RECAP: THE BIGGEST MOMENTS AND TRENDS

Well, ladies and gents, that’s another month in the books for crypto. And July was a wild one.

It was filled with lawsuits, hacks, Bitcoin ETFs, and on-chain hamster racing. (yup, you read that right)

So we’re coming at you with a recap of some of the biggest moments, performances, and trends for the month.

First, let’s cover the biggest moments…

Overall it was a positive month for crypto. But surprisingly, this wasn’t reflected in the price of BTC and ETH…

Both tokens dropped 4% and it was the first time since 2019 that BTC and ETH had a red July.

So, where’d the gains go instead? Altcoins.

Which leads us to our first trend of the month…

1/ Altcoin SZN

Many altcoins saw big profits in July. Here were some of the top performers:

• XRP: +46.53%

• MKR: +44.81%

• UNI: +22.56%

• SOL: +22.64%

• OP: +20.60%

The big catalyst? XRP being ruled not a security by a judge. “Can I get a hell yeah?!”

It was The Ruling Heard ‘Round Crypto and caused a handful of altcoins to pump in price.

But just when things were looking up for the crypto industry…

2/ Hacks, scams, and rugs were up BIG last month

$300M+ was lost to exploits, hacks, and scams in July. (the most in a single month this year)

Being in crypto felt like laser tag at Shadowland – except instead of losing points, you lose all your money.

The crazy part? 2 of the bigger incidents happened over the last 2 days of the month. Right at the buzzer…

THE HACK: Curve Finance was hacked for ~$50M over the weekend.

Although the attack has been mitigated for now, there’s a bigger problem at hand… the Curve CEO has $100M in debt backed by 427.5M Curve (CRV) tokens.

This represents ~47% of the total circulating supply of Curve (CRV) tokens.

So what? If the Curve CEO ends up defaulting on the loans and gets liquidated, it could lead to a massive dump of tokens and trigger an implosion in DeFi.

This could very well bleed into August and investors should keep a close eye on the situation.

THE RUGPULL: Bald is a memecoin that launched on Coinbase’s Layer 2 blockchain, Base.

It went from $0 → $100M market cap within 48 hours and then, in the blink of an eye, the project got rugged by the dev.

So what? Many people in crypto are speculating the dev could be a familiar face…

Sam Bankman-Fried, formerly known as SBF. (or fkSBF for short)

Online sleuths have found a few similarities between Bankman-Fried and the Bald dev:

• The initial liquidity for the memecoin came from a wallet that’s linked to SBF

• Serum (a project that was connected to SBF) recently became active on Twitter again and started shilling the Bald token

• Their writing styles are very similar (they’re both part of the 12 people on Earth that still use the word “nor”)

Who knows if it’s really Sam Bankman-Friend or not, but there are two things I don’t trust: Comcast internet and coincidences.

The most concerning part is that the rug pull was executed on Coinbase’s brand-new blockchain.

And since the U.S.-based crypto exchange is in the middle of a legal war with the SEC, many people think Gary G could use this as ammo.

All eyes will be on what happens next…

Final words:

Big manipulation are in game watch for your positions.

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Not Financial Advice!

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Author

Jake
TOP Trader