Jake
TOP Trader

BTC:
INTRO: BTC breaks support at 43k and faces pushback.

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 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/rODZNxNF/

ETH:
INTRO: ETH is finding support at $2,220 and should consolidate above for a bigger push upwards.

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 $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 $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 $2,220. 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 $2,220 would signal a bullish breakout and could send the pair higher to $2,320.

On the downside, ETH/USDT is facing support at $2,100. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $2,100 would signal a bearish breakdown and could send the pair lower to $2,000 or even $1,900.

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

XRP:
INTRO: XRP is trying to consolidate above $0.62 for a stronger push upwards.

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/aVRXnhJ4/

LINK:
INTRO: LINK is holding above $15 and should 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 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 $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 significant 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/TtsFgl9Z/

SOL:
INTRO: SOL is pushing for a bullish breakout.

Here is a technical analysis for 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 significant 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/mGYwdJYH/

CRYPTO NEWS:

4 OF THE MOST INTERESTING GRAPHICS WE’VE SEEN DURING THE CHRISTMAS SEASON
1/ Solana is dominating stablecoin volume. Last week, Solana made history by surpassing all other blockchains in daily stablecoin transfer volume for the first time ever.

Solana has maintained this lead for 7 out of the last 10 days, including a remarkable $12 billion in stablecoin volume yesterday alone.

Why this matters: Stablecoin transfer volume is a positive indicator that investors are preparing to engage in activities on a blockchain, such as buying tokens/NFTs or providing liquidity to protocols.

Think of it like going to Chuck E. Cheese as a kid. (By the way, if you’re not familiar, it’s like the Las Vegas strip for toddlers—except instead of poker, roulette, and alcohol, it has juice boxes, ski-ball, and claw machines).

It’s awesome. But every time you’d go, you’d have to exchange your (parents’) cash for some tokens to play.

Well, stablecoins are akin to the Chuck E. Cheese tokens of crypto. An increase in stablecoin supply on Solana equals more money that people are likely to spend ‘playing’ there.

2/ Ethereum’s next big upgrade is coming in early 2024… There’s no official date for when the upgrade will go live on Ethereum’s main network, but developers did release a preliminary schedule for the tests.

Think of it like clinical trials – a drug has to go through phases 1, 2, 3, etc., before it gets to humans.

Same thing with Ethereum. And here are the dates for the tests:

• Phase 1: Goerli (scheduled for Jan 17).
• Phase 2: Sepolia (scheduled for Jan 30).
• Phase 3: Holesky (scheduled for Feb 7).
• Phase 4: Ethereum’s mainnet (not scheduled yet).

Crazy, I know. The testing networks all sound like STDs you tried avoiding in college…

Anyway, why does this matter? “Dencun” will be the first major upgrade for Ethereum in a year, and it includes something called EIP-4844 (AKA “proto-danksharding”).

We won’t get into all the nerdy, technical details today (wouldn’t want you to proto-dankshard-your-pants the day after Christmas), but we’ll dive deeper in future editions.

The #1 thing you need to know right now is… the upgrade is supposed to significantly reduce gas fees for Ethereum’s Layer 2 rollups – like Optimism, Arbitrum, Polygon, etc.

Check it out:

L2 tokens ($MATIC, $ARB, $OP, etc.) could perform well as the Dencun upgrade gets closer and the narrative around it gets stronger.

3/ Bitcoin’s security budget.

Here’s a crazy stat for ya… (courtesy of our pal, Kofi).

Why this matters: According to Kofi, this will be the first year where Bitcoin’s annual security budget as a percentage of the market cap will be higher than the previous year (from 1.8% to 1.9%).

This is a positive development. Think of the security budget as the amount miners earn for securing the network…

• The higher the value, the more secure Bitcoin becomes. The network turns into crypto’s Fort Knox – unbreakable.
• On the contrary, the lower the value, the less secure Bitcoin is. The network turns into a bank vault made of Lego pieces – easy to break.

4/ VCs invested over $10B in crypto startups in 2023. Here’s the breakdown:

The good news: Crypto startups secured $10.7B in funding this year.

The bad news: It’s a 68% drop from last year when $33.3B was raised in 2022.

Crypto startups raising $10.7B during a bear market is pretty impressive (even if it technically marked a ‘down’ year)…

And with the market heating up again, we predict this number will triple in 2024 and reach a new all-time high. You heard it here first.

FAST NEWS:

Crypto court cases will heat up in 2024 – here are the ones to watch. From FTX to Binance to Coinbase, next year is set to be a big one for crypto court cases. — DL News

Mt. Gox creditors have started receiving reimbursements. After almost a decade, the wait is finally over!

Industry leaders see Hong Kong as the next Bitcoin ETF hub. Many speculate that Hong Kong could join the race if, and when, the U.S. accepts its first Bitcoin ETF applications.

Japan seeks to exempt companies from tax on unrealized crypto gains. Japan’s cabinet approved the 2024 tax regime revision on Friday, but it still needs to go through legislative approval.

Nigeria has lifted restrictions on bank accounts for crypto firms. Fun fact: Nigeria is the country with the most crypto holders (47% of people hold crypto) according to Chainalysis.

Paxos receives approval from New York regulators to expand to Solana. Paxos said it plans to offer USDP, a USD-backed stablecoin, on Solana to the public on Jan. 17.

Final words:

Market grabbing liquidity in both direction take care of your trades.

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 +183.0% PROFIT!

GROW CURENTLY:

TRADING COIN: BTC/USDT

SETUP: SHORT

TAKE PROFIT: /

SAFETY ORDERS: /

Liquidation: /

Not Financial Advice!
Good luck with trades,
JAKE