Hello, everyone!

I am still holding my local short which now is in small profit and has the stop loss at the entry. I am trying to catch the last wave 5 inside wave 1 higher degree.

Let's take a look at the chart. I told you earlier that the target for the current dump is $26000-$26300🔴. After that I expect any sort of bounce. This bounce in my opinion is gonna be the wave 2 of the global bearish wave. It has the target approximately at $29k, which is 0.61 Fibonacci retracement. Of cource this target now is undefined because wave 1 has not been ended.

After that I expect the rapid dump in May - historically the worst month for all risky assets. Target for the most impulsive wave 3 is even $21k😨. 1.61 Fibonacci extension perfectly corresponds to this number.

Chart 1. BTC price.

Best regards, Ivan

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Ethereum Shapella Update Triggers Staker Withdrawals, Raises Concerns and Optimism

The recent Shapella update on the Ethereum network has caused stakers to withdraw thousands of ETH worth millions of dollars. While some analysts predicted a decline in the market value of ETH, the price has remained above $2,000, leading to cautious optimism among investors.

Withdrawals of over 270,000 ETH have been recorded since the update, with Lido, Figment, and Celsius Network being the leading withdrawal addresses. Lido also dominates the staking market with over 5 million staked ETH, followed by Kraken and Figment.

However, there are concerns about the future of the staking market, as Kraken faces a lawsuit by the CFTC, and Celsius faces insolvency issues. These concerns raise questions about the overall impact on ETH's value.

Despite liquidations amounting to over $73 million in the last 24 hours, funding rates stand at over 0%, indicating that investors anticipate a future price increase.

Key takeaways:

The Shapella update caused staker withdrawals of thousands of ETH worth millions of dollars.

Lido dominates the staking market with over 5 million staked ETH.

Kraken and Celsius face concerns about the future of the staking market.

Despite liquidations, funding rates indicate investor optimism for a future price increase.

Conclusion:

The Shapella update on Ethereum has caused staker withdrawals, leading to concerns and optimism among investors. While the future of the staking market remains uncertain, funding rates suggest that investors remain positive about the future value of ETH.

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#ETH /USDT

$ETH short challenge account trade:

🔻 $ETH Short (Challenge Account) 🔻 Entry: $2089 Target: $1990 Stop loss: Above $2116, hard stops not more than $2122 (max risk 1.5%)

Trade explanation: Going short on $ETH with a challenge account trade. Entry at $2089 with a target of $1990. Stop loss above $2116, with hard stops not more than $2122 to limit risk to 1.5%

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it can be difficult to discern which assets have the potential for growth and which do not. However, upon closer examination of $LTC , it appears that this digital asset may have a promising future.

Despite a price decline over the last two years, the On Balance Volume chart indicates a significant amount of buying pressure for $LTC as compared to $BTC . This suggests that investors are bullish on $LTC and believe that it has room for growth in the future.

Investors and traders alike should keep a close eye on $LTC and consider it as a potential addition to their portfolio. As with any investment, it is important to conduct thorough research and analysis before making any decisions. However, the indicators suggest that $LTC may be a worthwhile investment opportunity for those willing to take the risk.

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#Litecoin