Will there be a big consolidation at resistance, causing the market to break the price up soon?

21.11.2023

Dear traders,

The entire crypto market is consolidating under significant resistance, and a substantial breakout with a strong buying option is needed to overcome this resistance.

Jake
TOP Trader

BTC is pushing above 37k after a green weekly close and needs to hold above for a larger upward push. However, there is still a danger of a more substantial push down, and significant consolidation is ongoing.

ETH is pushing from a formidable resistance and testing $2000 as support. However, it remains vulnerable to a more significant drop if the $2000 support doesn’t hold firmly.

XRP is losing momentum and retracing below the $0.62 channel. A robust push with increased buying volume is needed to propel the price higher. Nevertheless, the $0.62 level presents formidable resistance, and a successful break above it would signal a bullish continuation.

LINK is testing the $14 support and must maintain it for a bullish continuation. A substantial and robust push is still required to overcome the strong resistance.

SOL has broken under the $57 support, and it could quickly drop to the $47 support if sell pressure continues.

EOS has broken above the $0.7 resistance and is now poised for a more substantial push towards $0.79, contingent on its ability to maintain its position within the $0.7 trading zone.

LTC has broken through a robust resistance at $70 and is now poised for a more substantial price push, returning to a bullish channel.

The DXY dollar is dropping hard and losing support at 103.5, with the next major support at 102.5.

Crypto/stock daily news:

MEET THE NEW PRO-BITCOIN PRESIDENT

Argentina has a new President…

His name: Javier Milei. And there are 3 things you should know:

1/ He loves Bitcoin. He says it “represents the return of money” to the people and “prevents politicians from robbing you through inflation”.

2/ He hates central banks. He calls them a scam and a “mechanism by which politicians cheat the good people”.

(Fun fact: he even went on national TV on his birthday and had a piñata shaped like the central bank. He beat the sh*t out of it.)

3/ He has sideburns that could give Elvis a run for his money. And a hairstyle that screams, “I have a vinyl collection and I’m not afraid to use it”.

Without further ado, say hello to… El Presidente.

Javier Milei received ~56% of the votes and will take office on December 10, 2023.

Why this matters: Javier Milei made some BIG promises if he was elected president. Stuff like…

Getting rid of the central bank. Replacing the Argentine peso with the U.S. dollar. Cutting the number of government ministries from 18 to 8. (Just check out this video where he shows who he plans to fire).

Now, I know what you’re thinking…. no central bank? A new national currency? WTF… that sounds crazy!

But…

a) sometimes crazy solutions are needed for crazy problems. And Argentina has been facing one hell of a problem…

It has one of the highest inflation rates in the world (143%).And the Argentine peso has been rapidly depreciating.

To put it into perspective, 1 U.S. dollar = 350 Argentine pesos. Oh, and just look at how much 1 Bitcoin costs in Argentina…

b) Now we have to see if Javier can actually execute his plans.

I’m no expert, so I have no idea how hard it is to just “get rid of the central bank”… but I do know that politicians’ promises are like ghosts – often talked about, rarely seen.

Javier has talked the talk. Now we’ll see if he can walk the walk.

But we saw what happened after the first pro-Bitcoin President (Nayib Bukele) got elected in El Salvador. He..

Made Bitcoin a legal tender in the country.
Started buying BTC to add to the country’s reserves.
Launched BTC-backed government bonds.

All eyes will be on Javier Milei to see if he does something similar.

FAST NEWS:

PT Bidding is the next event lined up to prepare for Phemex’s token launch on November 28th. Dive into the anticipation by learning more about the upcoming event, and help celebrate Phemex’s 4th anniversary.*

Fidelity filed paperwork to launch an ETH ETF. The $4.5T asset manager is the latest firm to join the ETH ETF race. — DL News

The U.S. Securities and Exchange Commission (SEC) delayed approvals for both Franklin Templeton’s and Global X’s spot Bitcoin ETF applications. Can’t say we’re surprised.

Republic selected Avalanche blockchain for its investment security token. The security token aims to generate profits from a portfolio invested in more than 750 private assets.

Bitcoin options open interest reached an all-time high of $15 billion on Deribit. An increase in open interest = higher liquidity and more market participants.

dYdX’s insurance fund lost $9 million as a result of a ‘targeted attack’. dYdX said in a statement that no user funds were affected and that its team is working to investigate the event.

Final words:

Market is at big resistance and this is good time to take short possitions or copytrade Short strategy bots like GROW who pring big profits in last 30 days.

Copy trade GROW 0.1->10k$ since 18.03 we got +122.0% PROFIT!