Will ETFs get approved by the SEC? Probably not, a big wick down is loading.

30.06.2023

Dear traders,

The crypto market is grabbing liquidity and pushing highs strongly down to support channel lines. Prepare for the worst, but look for the best.

Jake
TOP Trader

BTC, as predicted, hit $31,200 for a liquidity grab and nuked the price down to the lower channel. The price is still in the trading channel ranging from $29,500 to $31,200, and as long as it holds, it is a good sign for a possible push.

ETH still shows no strength and touched $1,830 again. It needs to hold above this level, or the next leg down is loading. It must maintain a level above this point to continue moving towards higher prices. Currently, it is consolidating before the next leg up or down.

XRP is losing momentum, and $0.48 is a strong resistance for now. $0.46 needs to hold, or a nuke will happen. There is still a possibility of bullish continuation on higher time frames, but only if $0.48 is broken.

LINK pushed above $6, but crashed down strongly afterward. It now needs to hold above $5.85, or the next low candle will occur. However, it still presents a good opportunity for spot buying and holding.

SOL made a bullish break above $18.5 and retraced strongly to $17. It now needs to hold above $18.5 for bullish continuation. It is still a good option for longer-term buying.

EOS made a strong push to $0.76 and after a big drop, it needs to hold above $0.7 for a bigger push up. Nonetheless, it remains a good option for long-term spot buying.

LTC killed the market and pushed strongly into $100, retesting $88 for bullish continuation. It looks good if it manages to hold above $88. Additionally, in 30 days, LTC will experience a halving event, which suggests a significant price increase due to a reduction in mining supply. This presents an excellent long-term investment opportunity!

The DXY was strongly rejected after hitting 103.5, and this wick looks bad.

Crypto/stock daily news:

IT’S OFFICIAL: FTX IS REBOOTING

There are two things that give the Trader Jake PTSD:

Frosted spiky hair circa 2001

Anything to do with FTX

We’re in the clear on the first (phew.) But not the second…

John J. Ray III (current FTX CEO and bankrupt company cleaner-upper) said he’s started looking for investors for FTX 2.0.

That’s right folks, the bankrupt crypto exchange is pulling a Dr. Dre – ?“it’s the next episode”?

Here’s what we know:

FTX would probably rebrand as part of the plan.

Customers would be paid back. Possibly via stakes in the restarted exchange.

Figure (a blockchain tech firm) is interested in helping FTX reboot. That’s the same company that bid for Celsius (and lost) btw. Talk about a Bankrupt Company Hunter™ over here.

Investor bids end at the end of this week.

Does it suck to dredge up FTX trauma? Yes.

But at the end of the day, there’s one goal: to repay the customers that lost money.

And believe it or not, a relaunched exchange might actually get them more of their money back.

At least it won’t be called “FTX.” Our money’s on another three-letter combo.

FAST NEWS:

A ConsenSys survey found that 92% of 15K people from 15 countries have heard of “crypto.” Just 8% are familiar with what “Web3” is. Lose? the? jargon.

Ledger (hard wallet leader) is launching a new crypto trading platform for institutional investors. Welcome to the bandwagon.

GBTC (Grayscale’s Bitcoin trust) hit a 1-year high on Tuesday. The digital asset manager wants to launch a Bitcoin ETF, so GBTC is soaring on news of BlackRock’s application for one.

There is now 23M ETH staked, an ATH since the Shapella Upgrade in April. “Great Unstaking” my ass.