🅱️ Will Binance Situation (SEC, DOJ) Crash Bitcoin?
The fate of Bitcoin rest in the hands of these giants. How Bitcoin will behave in the coming months is highly dependent on the battle between Binance, the SEC and DOJ.
Please join me as we look into 2 possible scenarios that can develop based on this situation, how Bitcoin will behave in the coming 6 months.
Bitcoin Bullish 2023
Bitcoin went through its bear market climax last year and this year has been marked by 100% growth.
So far Bitcoin has not experienced a strong correction in 2023, only a sideways corrective phase, a consolidation phase from April through June and now additional consolidation.
After a major bullish move, there is always a correction, this is normal.
Bitcoin is due a correction but when?
We are still within a bullish wave and this is where the battle of the giants, Binance vs the SEC and the DOJ comes in.
Two Scenarios | Binance vs USA (Bitcoin Long-Term)
1) The DOJ drops the hammer and Binance crashes, this in turn stimulates a sudden but harsh market correction in the form of a flash crash that ends up in a higher low. This higher low would be followed by a higher high and then the long-term corrective phase before the halving in 2024.
2) Nothing happens to Binance, legal action by the police is delayed and Bitcoin has no excuse to drop, it can go ahead. Bitcoin moves to hit a new high at $40,000 or in the range of 42/48K. After Bitcoin peaks, this sets the scenario for its first major correction in 2023 -after the Nov. 2022 low- and this opens the door for a long-term drawn out higher low. At this point the police drops the hammer on Binance and all hell breaks loose, we get 5-6 months of bear action ending in a higher low following by the start of the next bull-market in 2024.
The Binance situation can affect the market in different ways, here you can read more about it and prepare:
✴️ Prepare For Change | Better Safe Than Sorry (BNB Weekly)
Which one is your choice?
✔️ Crash now (#1) or crash after prices go up (#2), or do you have a different scenario?
Share in the comments.
We, on this side, go with #2.
They will let it roll a bit longer because causing the next market crash.
The catalyst is likely to be Binance... What's your take?
Namaste.
Please join me as we look into 2 possible scenarios that can develop based on this situation, how Bitcoin will behave in the coming 6 months.
Bitcoin Bullish 2023
Bitcoin went through its bear market climax last year and this year has been marked by 100% growth.
So far Bitcoin has not experienced a strong correction in 2023, only a sideways corrective phase, a consolidation phase from April through June and now additional consolidation.
After a major bullish move, there is always a correction, this is normal.
Bitcoin is due a correction but when?
We are still within a bullish wave and this is where the battle of the giants, Binance vs the SEC and the DOJ comes in.
Two Scenarios | Binance vs USA (Bitcoin Long-Term)
1) The DOJ drops the hammer and Binance crashes, this in turn stimulates a sudden but harsh market correction in the form of a flash crash that ends up in a higher low. This higher low would be followed by a higher high and then the long-term corrective phase before the halving in 2024.
2) Nothing happens to Binance, legal action by the police is delayed and Bitcoin has no excuse to drop, it can go ahead. Bitcoin moves to hit a new high at $40,000 or in the range of 42/48K. After Bitcoin peaks, this sets the scenario for its first major correction in 2023 -after the Nov. 2022 low- and this opens the door for a long-term drawn out higher low. At this point the police drops the hammer on Binance and all hell breaks loose, we get 5-6 months of bear action ending in a higher low following by the start of the next bull-market in 2024.
The Binance situation can affect the market in different ways, here you can read more about it and prepare:
✴️ Prepare For Change | Better Safe Than Sorry (BNB Weekly)
Which one is your choice?
✔️ Crash now (#1) or crash after prices go up (#2), or do you have a different scenario?
Share in the comments.
We, on this side, go with #2.
They will let it roll a bit longer because causing the next market crash.
The catalyst is likely to be Binance... What's your take?
Namaste.
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.