FTX
DOGE, Something Happened in DogetownDoge broke out from the descending widening wedge which started with the peak on November 1st.
This is an odd behavior considering the catastrophe that befell crypto. But maybe there is speculation that Elon will buy FTX pennies on the dollar, renaming it Dogetown, saving crypto and FTX at the same time and pumping Doge.
The first target is 0.119, this is the measured move of the descending widening wedge.
RSI is on the rise and seems to be following an ascending trendline.
The orange path is from an experimental AI that I designed. I don't know how reliable it is, I drew the path based on its recommendation for back testing.
There is of course the bearish scenario, where everybody lose trust in the exchanges and cold storage their coins and nobody is left to buy. In this case 2 cents inside the descending widening wedge is a viable target. 2 cents is the target of my idea below from one year ago. Don't think Elon will allow it.
DefiLlama: Total Value Locked by Protocols"Exchange is not your wallet".
"Not your keys, not your coins"
Despite the strong turmoil due to the FTX crash, DeFi dApps (Decentralized Finance applications that run on blockchains) remain intact, at least for the most part.
And given this bad context of the crypto market, it is worth noting that Dexes (decentralized exchanges) and Landing Protocols have proven to be much more resilient and secure than centralized exchanges, since the former have a more open administration and a source code that can be accessed and audited.
On the other hand, centralized exchanges are a black box, and at this delicate moment, there are doubts if they really have enough balance to honor all withdrawals.
DefiLlama TVL (Total Value Locked)
The graph presented here shows the monetary values locked in the main dApps, also called protocols.
What the graph indicates is that the DeFi ecosystem remains intact, and so far the application that has suffered the most withdrawals and losses has been Mango Markets, which runs on the Solana blockchain.
Due to the Alameda/FTX contamination, some Solana dApps may suffer more.
The worst case scenario in case of eviction
According to DefiLlama, the total amount locked in DeFi is $76.13b.
Doing a very quick baker's account with approximate values:
+ Total TVL: $76,000,000,000.00
- FTX Leak: $10,000,000,000.00
- Investments by Alameda/FTX in Solana and some dApps: $6,031,139,675.00
-------------------------------
= $59,968,860,325,000 (-21%)
So, if the market drops more, we could have a drop of another 21%, distributed among these protocols.
But, again, this is just a quick calculation and could be wrong, and it is not investment advice.
Final word
This will be a time of consolidation, in which ecosystems with solid governance will prove their worth and emerge from this crisis even stronger.
DefiLlama: Total Value Locked in Blockchainsℹ️ This is a complementary study of the idea below, where I analyzed the TVL of the main dApps:
Basically, here's a more macro view of DeFi ecosystems.
Making a very crude analogy, dApps would be like the banks of the physical world, while blockchains would be the cities/countries where these banks reside.
Total Value Locked in Blochchains
Ethereum continues to reign isolated in the lead.
Binance Smart Chain follows in second place, followed by Tron, AVAX, Matic, Optimism, Cronos, Solana, FTM, among others.
Last on this list are Ethereum Classic and Ethereum PoW.
The chart still does not show Solana's decrease, which is currently at $656.23m.
I believe it is due to a delay.
That's a 24% drop from the previous day.
Now it remains to see the scenes of the next chapters.
FTX is Just Another Market Correction: Liquidity and RegulationsI'm sure you've probably already heard the news about FTX so I won't cover everything - but there's a few things we might expect, longer-term, from the scandal this week.
- More Regulations: This incident embarrassed a lot of powerful people as well, so the likelihood of more substantial regulations coming down the pipe is now much higher.
- Increased Liquidity: Lots of people are pulling money outside of crypto right now, which explains why the prices have dropped so much this week, as a whole. (Especially Solana, which took an outsized hit compared to the rest.) But the money is still there - some will leave, but some will come back...hopefully with better research. It may present an opportunity for smaller alts to grow after the dust settles.
The crypto ecosystem has gone through a few exchange collapses already (ex. Mt. Gox) so crypto itself will still continue to press on. But I fully expect for more stories like these to unfold as we head further into the recession - the money printer has run out of ink, after all.
BTC weekly levels 12 NOvBTC weekly levels for upcoming week 14-20 Nov. We have marked impoetant levels and zones in the chart so kindly go through it.
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Trend is your friend stoopsnothing has changed except for the technology has gotten better, more companies have interests and countries are now adopting it as currency. VERY STRONG buy at these levels. These levels in 2017 were orgasmic but now in 2022 everyone wants to sell off???? Thats the media, dont pay mind lets gooooo
FTX and the end of an eraThe fall of FTX will go down in history as something similar to the crash of 2008.
On Friday, 11/11/2022, a court-supervised reorganization was requested, the first step towards filing for bankruptcy.
In this chart, we can see the balance of assets belonging to the hodlers of the FTT token, used on the FTX exchange.
Surreptitiously, on September 26, someone with inside information already knew the boat was going to sink.
And these managed to get a lifeboat before everyone else...
This can be proven by comparing the same type of chart in other cryptocurrencies, where nothing absurdly out of the ordinary is noticed:
BTC
ETH
AAVE
ADA
BUSD (Binance)
COINEX
Curve
dYDX
GUSD (Gemini)
HT (Huobi)
HUSD (Huobi)
KCS (Kucooin)
CRO
Polygon
Magic Internet Money
OKB (OKX)
QuickSwap (Polygon)
USDC
USDT
-------------------------
Another indicator that demonstrates the problem to come is the Volume of transactions with a value of $100,000 or greater in USD .
On FTX’s FTT token, there was a strangely unusual volume, ahead of other cryptocurrencies:
FTT
BTC
ETH
USDC (note that high volume happened just days later, in the desperation of multiple withdrawals and moves)
-------------------------
The Amount of asset held by Whales is another indicator that I bring here to compare some exchanges, but not all of them are available.
FTT (FTX)
BUSD (Binance) (this information does not exist for BNB)
Coinex
CRO
dYDX
GUSD (Gemini)
HT (Huobi) (⁉️)
HUSD (Huobi)
KCS (Kucoin)
OKB (OKX)
USDK (OKX)
Uniswap
Better times will come.
FTT looks like it may trigger this weekly h&s patternIs FTT about to meet the same fate LUNA did earlier this year? Luna also had a pretty nasty looking head and shoulders that it validated a breakdown from. FTTs is similar although the full measured move is negative 42 dollars which isn’t possible…that doesnt mean the pattern won’t still trigger, it just cant reach the full target….it could very easily drop deeply enough to go multiple decimal point places close to zero though if what CZ from binance seems to be suggesting is true about it being worthless. Also a chance that if this did drop to several decimal places close to zero like luna did, that I could try to time it just right and go in on it right before a big dead cat bounce like luna had…then there’s also the chance that this is unsubstantiated FUD and the h&s breakdown ends up being a fakeout, but at the moment that seems like a low probability. Either way I’m not touching this thing. *not financial advice*
SP500 Short, Final Leg Down to 200s?I wouldn't be surprised if a major geopolitical event is used to take the blame or worry away from people being down 80% off of their pension funds. Doesn't matter if it's engineered or not, as long as the event is present.
It could come in weeks, but it's a throw-in-the-dart and a take from what I see happening the past few months. Be sure to hug your friends and family, just in case the nuke meme plays out. If it or the event happens, just breathe, save, and survive. It's not gonna be as bad as the fallout games, and I doubt the game master will let things get that bad to the point of losing/relinquishing control. Just merely a shakeout to justify fear and consolidate power in the right direction for humanity considering we're overpopulated.
Hell, the drop could get delayed to the upcoming election cycle, but as we all know the FED is between a rock and a hard place to raise rates and crash the economy or let rates stay low and devalue the USD.
There is a fourth option that could be a game changer which is to usher in a 4IR to stimulate the whole global economy, and systematically counteract/control the incoming crash.
Crypto trojan horse, FTX, played out in an act to both consolidate financial power through CeFi and thwart US competitors from laundering money at the same time. Regardless if it blew up or not, the House gained an edge. Be it discrediting and devaluing crypto against CBDCs or understanding how and where the currency of state actors flows throughout the crypto ecosystem.
11-11
Chapter 11 for FTX
Trade:
Entry - 395
SL - 418
TPs - 320, 280
Bitcoin has lost 18180 support!This breakout to the upside could send $BTC to $14000 or lower, technically this is a valid short setup. In terms of fundamentals, FTX's bankruptcy risk is putting pressure on crypto markets after Binance gave up on its intention to rescue the non US FTX. SBF has apologized in a recent tweet and said that it was his mistake! $8 billion is required to save him from this bankruptcy situation, he is in discussion with investors but things are complicated as Binance said "FTX is insolvent"
🔥-35% OR +35%: the main trading plan for RIPPLE❗🔥Hi friends! Ripple is make a pullback to the closest value area of $0.27-0.34, where a lot of whales accumulate it's long trades. Price made a rebound by +25%.
Seems like a lot of traders got the liquidations and sell their crypto in loss. But 30-40 min ago was released the news about the $10-50B loan of Alameda (FTX fund).
🚩 Also the CEO of Binance CZ made a statement before: this crisis in the crypto industry is similar to the financial crisis of 2008. Crisis could lead to the collapse of a number of companies in the coming weeks.
SO we should expect the HIGH VOLATILITY AT THE MARKET AND GREAT OPPORTUNITIES FOR TRADERS.
✅ TRADING PLAN FOR XRP
I show you 2 trading plans that allow you to make a profit no matter whether the price is falling or rising.
SHORT PLAN
📊 The main preconditions to open a short:
🔥 close below the key level of $0.31
🔥 test this level as the resistance
🔥 huge sell orders during the test. I prefer to use DOM and Footprint to identify the real whales orders, but you can use simple volumes at the exchange
✅ The targets for short:
1. $0.27 - the lower boundary of closest value area
2. $0.22-0.24 - the next value area
LONG PLAN
📊 The main preconditions to open a long:
🔥 squeeze to the local trendline (you can identify it on lower tomeframes such as 1-4h)
🔥 false breakout before it and return od XRP to the trendline will give you fdittional confirmation that bulls support the price
🔥 huge volumes/buy order to buy on sclaping indicators such DOM and Footprint, which help you to identify the biggest one
✅ The targets for short:
1. $0.42 - the mirror level
2. $0.51 - the key level and strong resistance
3. $0.56 - the key level and local highs
🚩 I recommend you to book the profit partly , because in any case the market can make a rebound and you don't get the profit at all.
📊 I think this weekends will be "EXTREMELY FUN", so stay tuned and remember about risk management❗
What do you think the next crypro market and RIPPLE movement? Is it 12k or 20k for BTC soon? Write your thoughts in the comments!
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade!
🔥$900M IN SOLANA COINS WILL BE UNLOCKED IN 20 HOURS❗❗🔥 Hi friends! Seems like Solana in terrible situation! After the announcment of $320M unlock in SOL, the Solana Compass data shows that the Solana Epoch network will unlock 49,973,143 SOL. At the current price of $18.82, the unlocked SOL will be worth more than $900 MILLION❗ This will happen in 20 hours.
🚩 Additionally, the FTX case is not help SOL and entire crypto market to recover. Bitcoin fall to it's local lows of $16,800. As far as we know, 99,9% of alts copy BTC sentiments (bullish/bearish). So only bullish BTC save alts.
Per multiple reports, Crypto.com has announced the suspension of USDT and USDC Stablecoin deposits and withdrawals on the Solana network.
✅ So what is our trading plan to this event❓I recommend you to not panic (buy-sell), but wait for the best trading setup. I am already make some plan for you and will try to make it a little more often in the next 2-3 days.
📊 The main preconditions to open a short:
🔥 breakdown the $13-17 value area
🔥 test the value area as the reistance (you can wait also at the lower timeframes - 1h-4h.
🔥 volume growth that means someone sell a lot on the value area test and open a short
🔥 DOM and Footprint scalping tools indicates the huge buy and sell orders of the whales. If the huge SELL order walls apear, I will open a short trade with nice sl and possible 10-20RR.
🚩 If the price fall below the value area, the closest support is $2-4. This is possible fall by 67% because of no liquidity in this area!
BUT WHAT IF THIS JUST RETAILERS FEAR AND PANIC AT BTC BOTTOM?
📊 So for this case I leave here the plan to open a long on SOL for you:
🔥 the price continue to consolidate inside or above the $13-17 value area
🔥 liquidity collection below the local lows. This move will trigger the sl of traders who open a long in consolidation
🔥 volume growth which confirms the whales buy orders
You can also look for the trenline squeeze up and try to open a trade on the breakout on lower timeframes. The main precondtion is some manipulation before the local trendline breakout: sl collection, shakeout etc.
🚩 In this case I will also use DOM and Footprint scalping tools to prove my plan. If whales also buy a lot of SOL, I will open a long with them.
✅ Traders, was it usefull for you? Do you have your personal plan to buy or to sell SOL, BTC or other crypto? Share it in the comments!
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade!
🔥❗BREAKING UPDATE ON $900M SOL COINS UNLOCK: TIME TO BUY MORE❓🔥Hi friends! SOL make +29% rebound after the latest NEWS by Solana Foundtation on the coins was published. I share with you the current situation and my trading plans/targets for SOL in this idea! Enjoy it!
📊 This was good start of the week for Solana, because recently they announced massive partnership with Google Cloud. SOL even made +15% on this news.
Information about close relations between SOL and FTX was perceived especially negatively. The altcoin fall from $33 to $12. A lot of news about SOLANA coins unlock (worth of $900M) was published at Nov 9. This news dumped SOL. But FTX colapse and BTC fall push it even lower.
🔥Yesterday, official Twitter account of Solana Foundation made the first announcment on 28.5M of SOL coins unlock. “While 28.5M SOL was in the process of being unstaked during this epoch, the plan to unstake has now been postponed, and all 28.5M SOL have now been re-staked,” according to the tweet thread.
✅ This mean that unlocked coins were staked again and Solana Foundation don't let them go to the free market. The tweet pumped coin by +28%.
📊 TRADING PLAN FOR SOLANA
✅First of all, I think that local pullback to $23-27 is really possible in upcoming days. It's +30-40%.
This will be possible because of big amount of the short traders, that become FUEL for the growth🔥
🚩 I recommend you to find the local trendline (1-4h timeframe) and open a long trade on the before the breakout.
🔥 My targets are at least $20, but $23-27 are also possible, so book the profit partly!
✅ Another scenario is the return to the local support at $14-16. There a lot of sl are placed below this value area, so it's another chance for the whale to scare the reailers and accumulate more SOL.
The best precondition will be the growth of volume, but I personally use DOM and Footprint scalping tools to identify the whales orders and open a trade with them.
🚩 So, if the price fall below the value area and return above, it will be the best bullish signal!
Traders, have you already bought SOL or wait for the better price? What is your global targets for this altcoin? Write in the comments!
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade!
FTX = South Seas Trading Company 2022Could it be the great Crypto experiment of the past 8+ years is nothing more than a Vapor-Ware experiment to exploit the greed from their wealth?
Remember the 1700s South Seas Trading Company? Remember the story of "great riches" to be had by exploiting the spice trade in the South Seas?
Thousands of people piled into these shares after incredible stories of great riches to be had for the taking.
The "greater fool" theory continued to play out - even after information came forward to show the South Seas Company was falsely stating revenues/operations.
Eventually, it collapsed (along with dozens of similar scams).
Are we seeing the same thing happen in the Crypto space in 2022?
#BTC - Retest & Rejection with big volume....we be heading down#BTC - Retest & Rejection with big volume....we be heading down
- Nearing end of Macro wedge still need to fulfill the lower trendline at approx. $14.8k region
- Bounce to retest the flipped resistance at $18k
- Big rejection with volume confirming retest for further downward movement
🔥SAM BANKMAN-FRIED: how to become a millionaire❓Chinese recipe❗🔥Hi friends! This is an urgent update for ALL traders. Alameda Research (Sam Bankman-Fried fund), which is an FTX exchange fund, has a large amount of altcoins on its balance. A massive sell-off could happen very soon if the situation does not stabilise.
✅ Also it's a great opportunity fot the traders.
📊 HOW TO BECOME A MILLIONAIRE FOR 1 DAY? SBF CASE!
The Bloomberg Billionaires Index has been updated, according to which FTX CEO Sam Bankman-Fried's (SBF) net worth is now $992 million, up from $16 billion yesterday. SBF become a millionaire, but still the multi-millionaire!:)
✅ As far as you know, CZ tweet about FTX token (FTT) force traders to withdraw their money from FTX exchange. This forced CEO Sam Bankman-Fried to start negotiation on selling the exchange due to the risk of bankruptcy.
🚩 ‼️ It is possible that Binance and CZ itself will face legal issues, because many traders lost money because of such "manipulations". More details later.
📊 THE POSSIBLE HUGE DUMP OF ALAMEDA'S ALTCOINS!
Alameda Research hold almost 41 crypto coins as FTX echange reserves. If the withdrawal from FTX continues, they will be forced to sell some holding to cover the losses and allow the traders to withdrawal money.
🔥 This is a list of tokens and coins (>$100,000 assets) that can be sold by ALAMEDA in the closest future.
🚩 Such situations is always the opportunity for the well prepared investor or trader. So if you find the best entry point to long or short, the price will FAST reach your take profit on such volatile market.
📊 SOLANA IS UNDER THE BIGGEST PRESSURE!
Approximately $320m in Solana tokens could take Alameda Research out of stacking in the next 24 hours. This is approx. 18 M of SOL. Be carefull with this token.
🚩 As far as we know, there are a lot of news that force retail traders to sell while the whales continue to buy. I use DOM and Footprint sclaping tool to track such whales buy/sell orders and share this data with my subscribers. According to this data I will decide to long or to open a short the alts or BTC.
📊 TECHNICAL ANALYSIS ON FTX CHART
Now FTT fall for almost 97% from the ATH. The traders in such situations say that the chart is "broken". But I marked 2 value areas for you:
1. $22-33 value area where a lot of tokens were bought and IF price return to this area, a lot of traders/investors will sold their tokens at the breakeven. So we can assume that it will be BIGGEST resistance for the price.
2. $3.4-4.5 very old value area which become the support for the price and already bounced to $5. If everything going OK to FTX and it will not announce bankruptcy, the price can consolidate above or inside this area. At least it will be the most positive scenario for FTX.
The worst scenario if FTX token fall below the $3.4-4.5 area and test it as the resistance what will be the disaster for someone who don't use the risk management and opportunity for the short traders.
🔥 Traders, do you buy or sell crypto on this DUMP? BTC or alts? Write in the comments and stay tuned for more updates!
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade
LTC: Buy dips!Litecoin
Intraday - We look to Buy at 57.51 (stop at 55.29)
Bespoke support is located at 57.50. We look to buy dips. Short term bias has turned positive. The bullish engulfing candle on the daily chart is positive for sentiment.
Our profit targets will be 63.26 and 64.26
Resistance: 63.50 / 65.00 / 67.50
Support: 60.00 / 58.50 / 57.50
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Taf's Gun to the HeadTrade Idea : Sell Bitcoin at Market
Reasoning : Fundamentals of the crypto space are in peril after the collapse of FTX and this will show on BTC. Price broke down from a crucial 18200 support level and we seem to have retested it yesteday and now looking for bearish momentum to continue today.
Entry:17271.00
TP: 15005.00
SL: 18251.39
RR: 2.31
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