Crybab Channel Update on Crypto Markets

Key Focus: Bitcoin and Major Cryptocurrencies

• Bitcoin (BTC)
  • Struggling around major resistance levels.
  • Significant liquidity building above current price.
  • Recent comments from Federal Reserve Chair, Jerome Powell, are bullish for crypto.

Federal Reserve Chair's Comments

• Jerome Powell
  • Crypto becoming more mainstream.
  • Legal framework for stablecoins is beneficial.
  • Federal Reserve is opening up to crypto, particularly stablecoins.
  • Stablecoin issuers like Tether hold significant US treasuries, aiding government funding.
  • Potential loosening of bank rules on crypto, leading to possible bank adoption.

Bitcoin Price Analysis

• 4-Day Time Frame
  • Super trend indicator remains bearish.
• Weekly Time Frame
  • MACD shows declining bearish momentum.
  • Potential stage in cycle similar to July 2024.
  • Massive bearish divergence on weekly chart.
• 3-Day Time Frame
  • Major resistance between $86,000 and $88,000.
  • Support at $78,000 and $74,000.
• Daily Time Frame
  • Breakout above descending resistance acting as short-term support.
  • Lacking momentum due to larger bearish divergence.

Ethereum (ETH) Analysis

• Weekly Time Frame
  • Trading above support between $1,400 and $1,550.
  • Immediate short-term lacks momentum.
  • In a long-term bear market.

Salana (SOL) Analysis

• Weekly Time Frame
  • Attempting breakout above $120 to $130.
  • Needs weekly close above $130 to confirm breakout.

XRP Analysis

• 3-Day and Daily Time Frame
  • Bearish divergence on 3-day chart.
  • Descending channel with short-term bounces.

Chainlink (LINK) Analysis

• Daily Time Frame
  • Within a larger bearish trend.
  • Confirmed bullish divergence a week ago.
  • Short-term resistance around $12.70 to $12.90.
  • Significant resistance between $14.90 to $15.50.

Trading Opportunities and Exchanges

• Tubbit and Bitnex
  • Offers bonuses and lower trading fees with specific links.
  • Both are no KYC exchanges.

Conclusion

• Market shows potential for short-term bullish relief but lacks momentum.
• Watch for breakouts and confirmations above key resistance levels for potential upward movement.
• Consider trading strategies for both bullish and bearish markets.