Dear traders,
BTC has failed to break the big resistance and is still on hold.
Jake
TOP Trader
BTC:
INTRO: BTC has reached strong resistance at 43k and should continue to move.
Technical analysis for the BTC/USDT chart:
Key Levels:
- Resistance: $43,000, $41,500
- Support: $38,500, $41,500
Strategy:
- Long: Buy at $41.500 with a stop loss below $40,000 and a target price of $44,000.
- 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 $41,500 and $44,000. During the day, the pair entered the range. However, there are signs that the pair is ready to move with a possible support retest.
On the upside, BTC/USDT is facing resistance at the $44,000 level. The $43,000 level was tested today and if the price holds above it at the daily close, it will be confirmed as support. A break above $44,000 would signal a bullish breakout and could send the pair higher towards $45,500.
On the downside, BTC/USDT is facing support at $43,000. This level was the previous resistance during the day and now acts as support. A break below $40,000 would signal a bearish breakout and could send the pair lower towards $37,000 or even $35,000.
BTC1D chart TW link: https://www.tradingview.com/x/6K4jQySX/
ETH:
INTRO: ETH is back to $2,300 resistance and should hold volume for a bigger pullback.
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 $2300 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. During the day, the pair entered the range. However, there are signs that the pair is ready to move with a possible support retest.
On the other hand, ETH/USDT is facing resistance at $2320. This level has not been tested today and if the price holds above the daily close, it will be confirmed as support. A break above $2320 would signal a bullish breakout and could send the pair higher towards $2420.
On the downside, ETH/USDT faces support at $2220. This level is the previous swing low and has been repeatedly tested as resistance in recent weeks. A break below $2220 would signal a bearish breakout and could send the pair down towards $2000 or even $1900.
ETH1D chart TW link: https://www.tradingview.com/x/HHTkI9be/
XRP:
INTRO: XRP is still struggling with the $0.62 resistance and needs to break through it for a full bullish confirmation. There is still not enough buying volume for an upward push. A strong push up to $0.67 is what will break the big resistance and give a strong push up.
Here is a technical analysis for 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 is shifting into the range during the day. However, there are signs that the pair is ready to move with a possible support retest.
On the other hand, XRP/USDT is facing resistance at $0.66. This level was tested today and if the price holds above at 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 towards $0.7.
On the downside, XRP/USDT faces support at $0.62. This level is the previous swing low and has been tested repeatedly in recent weeks as a major support. A break below $0.62 would signal a bearish breakout and could send the pair down to $0.58 or even $0.54.
XRP chart TW link: https://www.tradingview.com/x/UQfhysIF/
LINK:
INTRO: LINK retested the $14 support and needs to consolidate above $15 for bullish continuation.
Here is a technical analysis for the LINK/USDT chart:
Key Levels:
- Resistance: $16, $15
- Support: $13.3, $14
Strategy:
- Long: Buy at $14 with a stop loss below $13.3 and a target price of $16.
- Short: Sell at $15 with a stop loss above $16.5 and a target price of $14.
Range description:
LINK/USDT is currently trading in a range between $14 and $16. The pair was shifting into the range during the day. However, there are signs that the pair is ready to move with a possible retest of the support level.
On the other hand, LINK/USDT is facing resistance at the $15 level. This level was tested today and if the price holds above at the daily close, it will be confirmed as support. A break above $15 would signal a bullish breakout and could send the pair higher towards $17.
On the downside, LINK/USDT faces support at $14. This level is the previous swing low and has been tested repeatedly in recent weeks as major resistance. A break below $14 would signal a bearish breakout and could send the pair lower towards $13 or even $14.
LINK chart TW link: https://www.tradingview.com/x/SwgrZfTP/
SOL:
INTRO: SOL is ready to break through the $75 resistance on a strong buy push.
Here is a technical analysis for the SOL/USDT chart:
Key Levels:
- Resistance: $75, $78.8
- Support: $65.5, $63
Strategy:
- Long: Buy at $65.5 with a stop loss below $61 and a target price of $75.
- Short: Sell at $75 with a stop loss above $78.8 and a target price of $65.5.
Range description:
The SOL/USDT pair is currently trading in a range between $65 and $75.5. However, there are signs that the pair is ready to make a move to push away from the strong resistance at the $75 level.
On the other hand, SOL/USDT is facing resistance at the $75 level. This level was tested today and if the price holds above at the daily close, it will be confirmed as support. A break above $75 would signal a bullish breakout and could send the pair higher towards $78.8.
On the downside, SOL/USDT faces support at $65.5. This level is the previous swing low and has been tested repeatedly in recent weeks as a major support. A break below $65.5 would signal a bearish breakout and could send the pair down to $62 or even $58.
SOL chart TW link: https: https://www.tradingview.com/x/RG3u4nDW/
CRYPTO NEWS:
WARNING: CRYPTOCURRENCY DAPPS ARE UNDER ATTACK
SOCIAL UPDATE: There are rumours that many cryptocurrency dApps may be vulnerable to a large exploit.
Here’s what we know so far….
This story is still under development, so it is not yet clear which dApps have been hacked and which have not. We’ll update you on any findings in our tomorrow’s issue.
Our advice for now: Don’t connect your wallet to any dApps or sign any transactions until everything is figured out.
Take the day off. Go out and touch some grass. Talk to those strangers in the house you call “family”.
And remember Newton’s (unofficial) 4th law of motion: He who f*cks around will find out about it.
Better to be over-insured than sorry.
FAST NEWS:
The Dor Traffic Miner (DTM) from Constellation Network has just gone on sale. DTM is the world’s first thermal sensor and people-counting miner, allowing anyone to passively earn DAG and DOR cryptocurrencies after setting up their hardware device.
The FASB has published new rules for cryptocurrency accounting. The updated standards will require companies to use fair value accounting for cryptocurrencies held on their balance sheets.
The Depository Trust and Clearing Corporation (DTCC) acquired Securrency for $50 million.The acquisition will complement DTCC’s blockchain pilot programme and create an institution-focused post-trade platform.
Coinbase introduced spot trading for international organisations. Coinbase is expanding its presence overseas and interest from institutions continues to grow.
Asian messaging giant Line just raised $140 million to expand their NFT venture. They plan to launch an NFT platform called DOSI in January.
Final words:
Crypto hit new resistance and facing bigger rejection with bad news we could see new retest of drop.
WE celebrate 1 year of blog posting by Top Trader Jake we are happy to announce that we upgrade BLOG post with more information and trading setups!
Please send us message what coin would you like to see in Trader Jake Technical Analysis we are ready to add more coins and setups.
GROW BOT UPDATE:
Copy trade GROW 0.1->10k$ since 18.03 we got +165.0% PROFIT!
GROW CURENTLY:
TRADING COIN: BTC/USDT
SETUP: SHORT
TAKE PROFIT: 41,776 USDT
SAFETY ORDERS: 2/10
Liquidation: 67,000 USDT
Not Financial Advice!
Good luck with trades,
JAKE
