Market push Altcoins and slow down BTC with bigger rejection.

26.12.2023

Altcoins break strong resistance and make big pushes now need to hold for bigger push-ups.

Jake
TOP Trader

BTC:
INTRO: BTC breaking 43k support.

Technical analysis for the BTC/USDT chart:

Key Levels:

• Resistance: $45,500, $44,000
• Support: $43,000, $41,500

Strategy:

• Long: Buy at $43.000 with a stop loss below $40,000 and a target price of $45,500.
• Short: Sell at $44,000 with a stop loss above $45,500 and a target price of $40,000.

Range Description:

BTC/USDT is currently trading in a range between $40,500 and $44,000. The pair has broken into range during the day. However, there are signs that the pair is ready to make a move with possible retest of support.

On the upside, BTC/USDT is facing resistance at $44,000. And 43,000$ level has been tested today and if the price holds above on the daily close it will be confirmed as support. A break above $43,000 would signal a bullish breakout and could send the pair higher to $45,500.

On the downside, BTC/USDT is facing support at $41,500. This level is a previous resistance for the day and now holds as support. A break below $40,000 would signal a bearish breakdown and could send the pair lower to $37,000 or even $35,000.

BTC1D chart TW link: https://www.tradingview.com/x/1EuxOn04/

ETH:
INTRO: ETH finding support at 2220$ and needs to hold above for a bigger push-up.

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

Key Levels:

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

Strategy:

• Long: Buy at $2220 with a stop loss below $2060 and a target price of $2320.
• Short: Sell at $2320 with a stop loss above $2420 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 range during the day. However, there are signs that the pair is ready to make a move with possible retest of support.

On the upside, ETH/USDT is facing resistance at $2220. 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 $2220 would signal a bullish breakout and could send the pair higher to $2320.

On the downside, ETH/USDT is facing support at $2100. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $2100 would signal a bearish breakdown and could send the pair lower to $2000 or even $1900.

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

XRP:
INTRO: XRP trying to hold above 0.62$ for a bigger push-up.

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

Key Levels:

• Resistance: $0.62, $0.67
• Support: $0.58, $0.54

Strategy:

• Long: Buy at $0.62 with a stop loss below $0.58 and a target price of $0.67.
• 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 $0.58 and $0.67. The pair has shifted into range during the day. However, there are signs that the pair is ready to make a move with possible retest of support.

On the upside, XRP/USDT is facing resistance at $0.66. 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 $0.67 would signal a bullish breakout and could send the pair higher to $0.7.

On the downside, XRP/USDT is facing support at $0.62. This level is a previous swing low and has been tested multiple times in recent weeks as big support. A break below $0.62 would signal a bearish breakdown and could send the pair lower to $0.58 or even $0.54.

XRP chart TW link: https://www.tradingview.com/x/KFxW2U3s/

LINK:
INTRO: LINK holding above 15$ and needs to hold for a bigger push up.

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

Key Levels:

• Resistance: $16, $16.5
• Support: $15, $14

Strategy:

• Long: Buy at $14 with a stop loss below $13.3 and a target price of $16.
• Short: Sell at $16 with a stop loss above $17.5 and a target price of $14.

Range Description:

LINK/USDT is currently trading in a range between $14 and $16. The pair has shifted into range during the day. However, there are signs that the pair is ready to make a move with 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 $17.

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 big resistance. A break below $14 would signal a bearish breakdown and could send the pair lower to $13 or even $14.

LINK chart TW link: https://www.tradingview.com/x/gEUjl1cY/

SOL:
INTRO: SOL pushing fully into the bullish breakout.

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

Key Levels:

• Resistance: $120, $126
• Support: $107, 100$

Strategy:

• Long: Buy at $107 with a stop loss below $100 and a target price of $120.
• Short: Sell at $120 with a stop loss above $126 and a target price of $107.

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 $120. 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 $120 would signal a bullish breakout and could send the pair higher to $126.

On the downside, SOL/USDT is facing support at $107. This level is a previous swing low and has been tested multiple times in recent weeks as big support. A break below $107 would signal a bearish breakdown and could send the pair lower to $100 or even $90.

SOL chart TW link: https://www.tradingview.com/x/gZS7WgJi/

CRYPTO NEWS:

WE LOOKED INSIDE SOME $10M+ CRYPTO WALLETS

Blockchains are open books. You can see all transactions, wallet balances, etc.

And one of the cooler things you can do is whale watching. This is when you peek into wallets (you wish were yours) that have millions of dollars in ‘em.

We like doing this because… it can give you insight into trading strategies they use (i.e. are they staking crypto? Are they lending/borrowing?) and what tokens/protocols they’re invested in.

• We first started tracking about 15 months ago.

• And all have 8-figure portfolios, ranging from $10M → $25M. No little guppies here.

We wanted to see what was different, what was the same, and what they had their eyes on now. Let’s dive in…

WHALE #1: “EverydayWhale”

15 months ago…

Wallet balance: $17.6M.
Main trading strategy: earn yield by providing liquidity to protocols like Maker and Uniswap.
Main blockchains used: 100% of assets were on Ethereum.

Fast forward to today…

Wallet balance: $9.9M (btw, it’s unclear why the wallet balance went down so much, but a few theories are: they sold off some assets or moved them to another non-EVM chain – like Solana, Cosmos, etc.).
Main trading strategy: stake ETH on Lido (67% of the whale’s crypto is staked here).
Main blockchains used: 100% of assets are still on Ethereum.

The takeaway: You don’t need to be the same investor you were yesterday. Just look at this whale…

6 months ago, they were focused on earning yield by providing liquidity. Today, they barely provide any liquidity and instead, stake ETH on Lido to earn yield.

It’s good to stay on your toes and try new things out.

WHALE #2: “PennilessWassie”

15 months ago…

Wallet balance: $22M.
Main trading strategy: farm yield on protocols like Frax, Convex, and Liquity.
Main blockchains used: 88% of assets were on Ethereum, 11% on Arbitrum, and 1% on Optimism.

Fast forward to today…

Wallet balance: $23.1M.
Main trading strategy: farm yield on protocols like Frax, Curve, and Convex (78% of their assets are on 1 of those 3 protocols).
Main blockchains used: 96% of assets are on Ethereum, 2% on Optimism, and 1% on Arbitrum.

The takeaway: Farming yield is often viewed as a “conservative” strategy (at least compared to trading sh*tcoins and leverage trading)…

… but this whale was able to make $1M+ from not doing much.

Btw, this strategy worked well because this whale had a sh*tton of money, but 5% returns might not be that appealing for investors trying “to make it.”

WHALE #3: “Ethereum”

15 months ago:

Wallet balance: $25.4M.
Main trading strategy: farm yield on protocols like Convex and Aura Finance.
Main blockchains used: 55% of assets on Ethereum, 22% on Avalance, 16% on Arbitrum, and 4% on BNB.

Fast forward to today…

Wallet balance: $29.2M.
Main trading strategy: pretty diverse… they’re lending/borrowing funds on Spark, staking on Convex, and farming yield on Magpie XYZ and Prisma Finance.
Main blockchains used: 57% on Ethereum, 34% on Arbitrum, 4% on Avalanche, and 3% on BNB Chain.

The takeaway: There are A LOT more things you can do on-chain than 15 months ago… and this whale is taking full advantage of it.

When we last looked at this wallet, they were invested in battle-tested protocols like Convex and Aura Finance.

Now, the whale has gone “degen mode” and is using a lot of new protocols (mostly ones that are tokenless, in hopes that one day they’ll launch a token and they can get an airdrop).

It’s an interesting strategy. We’ll check back in another few months to see how it plays out.

FAST NEWS:

Coinbase Wallet is making sending money as easy as sending a text. Users can now send money to friends and family through links, leading to easy onboarding for new crypto users. Available now on iOS, Android, and as a browser extension on Chrome and Brave.*

Ledger announced it will refund all users affected by last week’s exploit. The hardware wallet maker says it will also “enact changes to transaction signing processes.”

Bitcoin options open interest on the Chicago Mercantile Exchange (CME) reached an all-time high. In the past 24 hours, options open interest on CME bitcoin futures contracts has reached almost $2 billion in outstanding contracts.

Trezor added support for Solana and Solana Program Library (SPL) tokens. The hardware wallet manufacturer now supports over 8,000 tokens.

Immutable launched a new “Passport” tool to increase interoperability in web3 games. The tool allows players to use identities and assets across multiple platforms.

Final words:

The market is ready to push altcoins up and slow down in BTC push-up.

We celebrate 1 year of blog posting by Top Trader Jake we are happy to announce that we have upgraded the BLOG post with more information and trading setups!

Please send us a message about what coin would you like to see in Trader Jake Technical Analysis we are ready to add more coins and setups.

GROW BOT UPDATE:

Copy trade GROW 0.1->10k$ since 18.03 we got +183.0% PROFIT!

GROW CURRENTLY:

TRADING COIN: BTC/USDT
SETUP: SHORT
TAKE PROFIT: /
SAFETY ORDERS: /
Liquidation: /