The annual open is a wild purge of both short and long deals.
Jake
TOP Trader
BTC:
INTRO: BTC is moving back into the 40k zone.
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 $45,000. The pair has broken into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.
On the upside, BTC/USDT is facing resistance at $44,000. The $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 was 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/cuZHUOPU/
ETH:
INTRO: ETH has returned to the $2,200 support zone.
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 $2420 with a stop loss above $2520 and a target price of $2100.
Range description:
ETH/USDT is currently trading in a range between $2,100 and $2,400. The pair has broken into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.
On the upside, ETH/USDT is facing resistance at $2,420. 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 $2,420 would signal a bullish breakout and could send the pair higher to $2,520.
On the downside, ETH/USDT is facing support at $2,320. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $2,320 would signal a bearish breakdown and could send the pair lower to $2,220 or even $2,000.
ETH1D chart TW link: https://www.tradingview.com/x/zGnYYrNV/
XRP:
INTRO: XRP clears all longs to $0.5 and pushes back from there.
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 has shifted into the range during the day. However, there are signs that the pair is ready to make a move with a 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 significant 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/kGmnrqZD/
LINK:
INTRO: LINK returns to the $12 range.
Here is a technical analysis for the LINK/USDT chart:
Key Levels:
- Resistance: $16.5, $16
- Support: $15, $14
Strategy:
- Long: Buy at $15 with a stop loss below $14 and a target price of $17.
- Short: Sell at $16.5 with a stop loss above $17.5 and a target price of $14.
Range description:
LINK/USDT is currently trading in a range between $16 and $17. The pair has shifted into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.
On the upside, LINK/USDT is facing resistance at $17. 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 $17 would signal a bullish breakout and could send the pair higher to $18.
On the downside, LINK/USDT is facing support at $16. This level is a previous swing low and has been tested multiple times in recent weeks as significant resistance. A break below $16 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/IU9PsCPn/
SOL:
INTRO: SOL is back in the $100 zone.
Here is a technical analysis for the SOL/USDT chart:
Key Levels:
- Resistance: $107, $120
- Support: $90, 100$
Strategy:
- Long: Buy at $100 with a stop loss below $90 and a target price of $120.
- Short: Sell at $107 with a stop loss above $120 and a target price of $100.
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 $107. 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 $107 would signal a bullish breakout and could send the pair higher to $126.
On the downside, SOL/USDT is facing support at $100. This level is a previous swing low and has been tested multiple times in recent weeks as significant support. A break below $100 would signal a bearish breakdown and could send the pair lower to $90 or even $80.
SOL chart TW link: https: https://www.tradingview.com/x/mzRJjn5Y/
CRYPTO NEWS:
2024 PREDICTIONS FROM CRYPTOCURRENCY VC
I have to admit that Fred Wilson is one of the best VCs out there.
He’s been a VC since 1986. #OGstatus.
He founded Union Square Ventures and has invested in companies like Twitter, Tumblr, Etsy and MongoDB.
He has also written a new article on his blog (AVC – Musings of a VC in NYC) every weekday since September 2003.
Mad respect. I’ve been writing it for almost two years now and feel I deserve a Purple Heart award…..
Anyway, Fred just published a new blog called “What will happen in 2024”. Here are the 5 most important takeaways:
1/ 2024 is going to be an amazing year for technology.
“In forty years in the technology sector, I have never seen a more innovative environment. It’s breathtaking.”
Fred
This is coming from someone who has been in the technology sector longer than myself.
2/ Innovations never wait for rules and regulations….. but they eventually get them.
2023 was the year that cryptocurrencies came under full-scale attack from U.S. regulators and lawmakers. Fortunately, it was able to hold its own….
Fred believes that 2024 will be the year US regulators and lawmakers finally come to terms with Web3.
3/ Blockchain technology needs its own “ChatGPT moment.”
Last year, A.I. had a big release party. The big catalyst: ChatGPT.
Developers use it to help write code. Analysts use it to analyse massive data sets. School kids use it for educational purposes to cheat on assignments/tests.
It took 40 years, but A.I. has finally become a mass phenomenon.
Fred believes that 2024 will be the year when decentralised applications start appearing in cryptocurrency.
4/ A.I. and Web3 – two sides of the same coin.
For the past year, there has been an intense debate: TeamAI or TeamWeb3?
(I haven’t seen such a fierce debate since girls in middle school were arguing over #TeamJacob or #TeamEdward).
Fred thinks it’s two sides of the same coin…..
AI will help make Web3 usable in mainstream applications.
Web3 will help us trust AI.
Together, they will lead to a more powerful, more resilient, more reliable and fairer internet.
5/ Venture investing will not grow much this year.
Fred’s reasoning goes like this. Limited partners (aka the people who provide money to VCs) have been hit hard lately and are being cautious with their funds.
As a result, VCs are having trouble raising funds, cutting back, or closing altogether.
And since the life cycle of venture capital funds is typically ten years, Fred believes it will take a few more years to recover.
FAST NEWS:
The US government dropped 6 charges against fkSBF. As a result, fkSBF will not be prosecuted for violating political campaign finance rules.
AVAX fund announced that it is going to invest in memcoins. The investment criteria are based on indicators such as liquidity, social sentiment, project maturity and number of holders.
VanEck has released a new bitcoin fund ETF commercial. The battle between ETF contenders continues to heat up… Will there be a Super Bowl ad?
The total value locked in the DeFi protocols has jumped to levels last seen before the FTX crash. Just as bitcoin crossed the $45K mark for the first time since April 2022.
Bitcoin exchange reserves hit a multi-week low. A sign that long-term thinkers continue to invest at these price levels.
Final words:
Market nuking after bad news about ETF and in coming days we will see results of this retest.
Lets take best trading opportunities for coming bull market and grow your trading positions strong.
GROW BOT UPDATE:
Copy trade GROW 0.1->10k$ since 18.03 we got +206.0% PROFIT!
GROW CURENTLY:
TRADING COIN: BTC/USDT
SETUP: SHORT
TAKE PROFIT: /
SAFETY ORDERS: /
Liquidation: /
Not Financial Advice!
Good luck with trades,
JAKE
