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🔥❗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!
by Yuriy_Bishko
9
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?
FShort
by BradMatheny
2
🔥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
by Yuriy_Bishko
20
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 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
VANTAGE:LTCUSDLong
by VantageMarkets
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 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
COINBASE:BTCUSDShort
by Signal_Centre1
1
Airswap structure intact. Beginning of price mark up phase#Custodial-exchanges have taken an irreparable blow in the latest #ftx bank-run. The answer is peer-to-peer decentralised exchanges that run directly from personal wallets. #Airswap has finished it's accumulation phase and will now enter it's price mark up phase. This is most evident in the weekly RSI. I use the RSI to find "outliers" and the RSI averave to identify the trend while the 50 point mark or meridian acts as a barrier. In the last two years through accumulation AST investors have taken the available supply at these low levels. Zooming in closer to this week's RSI outlier we can see that it failed to go below the 50 point mark while the trend and structure remain intact. I expect the mark up phase to take place from now until May 2023 with a double top forming around September of 2023. Personally I am patientiently awaiting an integration with #Celer's Instant messaging protocol which will give us more options with-in the airswap protocol. My main price target for AST is $15 USD.
ALong
by ASX1X
5
Fundamental Analysis Prevails For Bitcoin Well, here we are. After months of frustrating action for traders, Bitcoin has finally given a sizable move. Not too long ago, I had just begun to see the possibility of a bigger relief rally for the largest cryptocurrency. This was due to some technical developments, coupled with the lack of bad news in the crypto market. Granted, I had no intention of purchasing any and still do not. So, my instincts regarding the fundamentals for this market have saved me some extreme losses. For this entire year, I've been writing about why I do not think the fundamentals of Bitcoin and other cryptocurrencies make sense. The vast majority of my posts have been extremely bearish. Many of those posts are linked below. It seemed as though I was just going along with the prevailing sentiment. Yet, my feelings have only become more validated as the year has worn on. When something does not produce an output, and when something lacks usage outside of holding, transferring, and trading, it is subject to speculation - and speculation only. Without a material purpose, an asset like this is easy to manipulate. The question is - would it still be wise to buy Bitcoin from an investing standpoint? Since money is a somewhat abstract concept, the narrative around Bitcoin and crypto can be warped to fit the intended audience; whether it's empowerment for marginalized/oppressed populations and financial access for the unbanked (political left) or the distrust of big government/big banks (libertarian right), Bitcoin's got a spin for everyone. Or should I say, everyone with the means to access it in the first place. When we saw what happened with El Salvador, that was my "AHA!" moment. No one wants this garbage. People invested in crypto expecting to say F-U to the big banks and avoid a bank run. But here's a very genuine bank run, staring us in the face. The White Knight is a Wolf in Sheep's Clothing Enter the snake oil salesmen, as we like to call them. You may know them by name: Sam Bankman-Fried, Do Kwon, and Changpeng Zhao. We call them snake oil salesmen because their entire business runs on selling something that is virtually useless. And my theory is that they know it. Just today, Binance transferred an enormous amount of USD stablecoins out of their exchange. My guess CZ (Binance) and Justin Sun (Tronix) are somehow using their stablecoins BUSD and USDD to manufacture "infinite" money. They extract capital from traders/investors through these unregulated stablecoins and then swap these unregulated stablecoins for more "legitimate" stablecoins such as USDC and even USDT, financing the grandest counterfeiting scheme the world has ever seen, and the first instance of broader DIGITAL counterfeiting. Since this has been a theory of mine for a while (remember, it is only a theory), it came as no surprise to see CZ appear as a "white knight," eliminating the next "bad" player from the crypto market. In taking down SBF, perhaps he bought himself a little time to extract a bit more liquidity from the market. Greed knows no bounds. My theory is that eventually it will all come crashing down. But maybe this is just extreme thinking. It doesn't seem so extreme after what just happened. Now, what about the technicals??? Are there any technicals left for Bitcoin??? Well, we have a bounce. The better than expected CPI numbers have sent markets rallying, yet Bitcoin is still substantially lower than it was yesterday morning. Just check out its performance against SPX. This is a chart I show frequently, but I think it illustrates something important: It shows that equity markets can very well just continue onwards without Bitcoin. The biggest setback for crypto with this FTX disaster is that SBF was a liaison of sorts between U.S. regulators and the shitcoin casino. Lying in the face of the government as the face of an industry will likely leave yet another stain on this market, and perhaps one that is impossible to get out. Yes, I think it is that bad. For those who say, "But no, it's just shitcoins that are in trouble! Not Bitcoin! There will be a new all-time high eventually so buy now while it's cheap!" well....we can clearly see from this last cycle - the average person cares little about Bitcoin itself other than as a speculative investment, and it is now trading below its previous all-time high. The longer Bitcoin stays low, the more likely events like these will continue to occur as there is no bailing out these crypto kingpins, and even the mass production of stablecoins can't keep up with a liquidity crisis. Even back before the LUNA fiasco, I suggested events like these seemed likely. To move up from here, Bitcoin will need to attract buyers, not sellers here above $17.6k (previous bottom from June). It will also need to hold back above the previously broken downtrend. This trendline has some wiggle room (it's not totally precise), but you can see that breaking back below it yesterday caused a significant selloff. The next major support level lies near $13.8k - the high from 2019. The $12.5-13.8k zone has a huge amount of historical traded volume. This area seems like it has already been fron-run by traders, given the size of the current bounce from $15.5k to now near $18k. During the initial bounce, USDT de-pegged momentarily as much as 3% and funding became extremely negative for futures, since liquidity dried up instantly as prices went below $16k. If price ventures down there again, I would expect price to get a bit closer to that $13.8k level, and perhaps it would put some stress on those bigger stablecoins and exchange futures funding. But, if Bitcoin can get back above $19.8k soon with decent volume, perhaps the medium-term bottom is indeed in. I just don't see it very likely for crypto prices to sustain higher levels in the future, even if they go up again in the short-medium term. What a time to be observing and participating in financial markets! It's certainly an amazing lesson in economics and human psychology. Thank you for reading, and for taking part in this journey with me. As always, this is not meant as financial advice, but for speculation and entertainment only. Please consult a licensed professional financial advisor before making any significant financial decisions. This piece represents my opinion only, and there are plenty of others out there. -Victor Cobra
COINBASE:BTCUSDShort
by VictorCobra
2
#BTC/USDT Urgent Update! DO NO PANIC!!!Welcome to this Urgent BTC update guys, I will keep it short. I have mentioned for many days not to take leverage trades. I hope you understand NOW why. Eventually, these industry giants work together. It's all a game for them while common people/traders get rugged on leverage. I bought BTC around this level of $17450 and I still feel BTC will be above $75k in the next 24 to 36 months. So zoom out and watch higher time frames. Even if you see this chart, we might have wicked down to $17166 but still, we are trading inside the channel. Although am not sure what is about to happen next, I could tell. you one thing for sure, If you are selling now you will regret it for life. If you are buying now you will be thankful in the long run. This is the yearly low now. Still do your own research, I will be more than happy to buy BTC around $13k to $15k if it gets there. LTF Update:- We will wait for the daily close and the upcoming weekly close. If the FTT shit goes on for the next 2-3 days more we can see more lows. Avoid leverage if you are new. I hope this update helps you. If it did, give it a like. BE STRONG, THIS WILL PASS. The decisions you take for the next few months are very important. DYOR Not financial advice. Thank you #PEACE
by Cryptorphic
39
🔥FTX IN GAME❓ The HIGHLIGHTS of the day and 3 targets for FTT❗🔥 Hi friends! "I'm sorry. That's the biggest thing.I fucked up, and should have done better.", said CEO FTX Sam Bankman-Fried (SBF) in the latest tweets. Today was the day full of news about FTX, so I collect for you the most impotrant for you: 1. The FTX CEO says in a message to his remaining employees that FTX could theoretically still raise capital. Next week, the FTX CEO promises to try very hard in terms of negotiations. Says he is in talks with Justin Sun (Tron founder). 2. Huobi Research has published a list of projects in which FTX has invested directly and with which the exchange has had close links. According to Huobi Research, these projects stand a good chance become the "victims" (to varying degrees) of this crisis. 3. The founder of another cryptocurrency exchange, Kraken, said the FTX situation is a huge blow to the crypto industry, but it will be overcome. 4. The FTX CEO transferred at least $4bn in FTX funds to support his own Alameda (the FTX fund). Some of these funds were client deposits. SBF has not informed other FTX executives of its intention to support Alameda in this way. 🚩 US has launched an investigation against FTX and Co. 5. Tether is freezing an FTX wallet with a balance of 46,360,701 USDT on the TRON blockchain at the request of the SEC until the end of the investigation. 6. FTX HAS TOTAL MARKET VALUE OF ASSETS, COLLATERAL HIGHER THAN CLIENT DEPOSITS - CEO FTX Sam Bankman-Fried. He add that FTX US is safe, but no word about another clients. 🚩 This quote pump the price by 50%! 7. At the end of his message, the FTX CEO added: "At some point I might have more to say about a particular sparring partner, so to speak. But you know, glass houses. So for now I'll just say: well played, you won.". This message is addressed to CZ, the closest competitor and CEO of the Binance exchange. It was CZ that provoked this fall of entire crypto marketwith its statement about the sale of $600M of FTT coins. 🔥8. According to some sources, Sam Bankman-Fried (SBF) is in talks for $9.4bn funding: - $1 billion from Justin Sun (TRON) - $1 billion from OKEX - $1 billion from TETHER - $2 billion from a consortium of funds - the rest $ from other investors ✅ Wouldn't be surprised if Elon Musk is also involved in the deal. 📊 The monopoly of Binance will start, if FTX finnaly scamed. FTX was the top-2 exchange, right after the Binance. So now I recommend you to pay the attention to the strongest BINANCE projects or project based on BNB chain, because they can bring you the HUGE income in 1-2 year. 🚩 Targets for BNB and the BEST Binance crypto coins or project related to Binance I describe in this idea👇 I just got information that FTX has allowed withdrawals. Now only the only active wallet for withdrawal is visible, but withdrawals go to the same addresses and too slowly. Therefore, this news is not yet proven. ✅ Finnaly, I think the FTX exchange will be recovered because it is the largest exchange in the USA. I will continue to monitor the situation and give you best trading plans. Stay tuned! 📊 TECHNICAL ANALYSIS OF FTT CHART AND 3 TARGETS The price fall below the $2.5 key level and collect the sl there. The BEST entry point was at the price close above this level. Now the possible profit is +66%. ✅ If you miss that entry point, I made for you another possible 2 plans that can bring you a profit: 1. squeeze to the local trendline and than the breakout. It will be the best scenario. 2. return the price to the key level and test as the support. It's almost impossible, but i need to inform you about this entry poiny. It is more risky because if the price return to $2.5 the key level might not hold the price. Take a look on the volume indicator. Seems like the liquidation of long traders are finnaly ended, but the liquidation of short traders may strart soon. 🚩 I use DOM and Footprint scalping tools to identify the whales and open a trades with them. I recommend you to use it also cause this tools can add +25-35% to your winrate. ✅ I mark only mid-term targets because see the posibility to make the nice profit: 🔥 $6.5 - the key level and local high 🔥 $10 - key level and even number 🔥 15$ - key level and even number 🚩 Why the price can reach this targets so fast? Because the FUEL for the growth will be the short traders, that will bought back FTT to cover their losses. Remember about risk management and market give you a lot of opportunities! ✅ Traders, what do you think about the FTX situation? Is it possible, that FTX return to previous price or it will scammed soon? Write your thoughts in the comment. 💻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!
by Yuriy_Bishko
6
Bitcoin FTX Futures brokenHere's an example how everything is looking completely upside down with FTX. Forward Futures trading at 7% premiums while price marking down is unnatural behaviour. Of course we can easily compare to Deribit Futures everything is looking completely destroyed as Premiums are marking severe discounts. But this is actually what I was expecting for months to happen. A bottom can only be found if we have Futures trading in Backwardation as they are right now. However, I expect them to sustain this way maybe for a week or two to be legit. If they normalize too quickly is a sign that there is too much bullishness in the system. The fact that we have Binance and OKX perpetual swaps trading aggressive above spot prices is also another bearish sign as margin traders are positioning themselves long on leverage... what could go wrong? Things are looking ugly right now and we have no clue what other side effects are yet to bleed into the market as this start affecting balance-sheet of lenders, FTX partners, and other big institutions that are exposed to the FTX nightmare.
FTX:BTCPERPShort
by D7R
1
🔥75% OF CRYPTO MARKET MIGHT BE UNDER BINANCE CONTROL❗ BUY MORE❓🔥Hi friends! The monopoly of Binance will start, if FTX finnaly scamed. FTX was the top-2 exchange, right after the Binance. So now I recommend you to pay the attention to the strongest BINANCE projects or project based on BNB chain, because they can bring you the HUGE income in 1-2 year. ✅ The list of it I will add at the end. 🚩 RIGHT NOW: Binance have released the amount of crypto on their wallets. CZ yesterday named it Proof of Assets. Also, now you can find this information on the Binance website. 📊 TECHNICAL ANALYSIS Now the BNB return to the HUGE accumulation area of $268-304, where the most coins were bought by the big players (whales). Now we see that price possibly make the false breakout of the lower boundary and this is strong bullish signal, if BNB close inside the area. 📊 The trading plan to open a long: 🔥 bnb still in the value area of $260-304 🔥 possible false breakout of the local low which take the sl of traders and the whales will buy even more coins 🔥 volume growth on sl collections 🔥squeeze to the local trndline after the breakout 🚩 Also, remember about DOM and Footprin which is my most important trading tools for scalping. They shows me the best place to buy and to sell crypto with the whales. So you can increase your winrate by +25-30% using just this scalping tools. ✅ The targets for BNB: 1. $300 - the top boundary of the value area 2. $335 - the local highs 3. $400 - the local highs after the pump 📊 Why the short trade is still possible? The main reason for the dump is BTC. So if it will fall to $12-14k, all the altcoin make -30-40% more. 🚩 The main precondition for the short trade is the fall below the value area of $260-304 and test it as the resistance. You can set sl above the local high and ope nice trade with 20-30RR. The main target is the closests support at $235-243 value area. All of these plans I leave on chart, so you can use it at any moment! ✅ Now BNB skyrocketing on FTX. The price already reach it's ATH at $670. I think this is because of rumors that Binance will return the money to the owners of BNB on other exchanges (if this funds will be lost ). This is the possible reason why BNB start to PUMP. 📊 WHY THE POSSIBLE BINANCE MONOPOLY ISN'T GOOD FOR ENTIRE CRYPTO MARKET? 🚩 If BINANCE get the monopoly at the market, the problem of BINANCE will be the problems of the entire crypto market. If Binance will got in trouble (hacked, robbed, DDOS-attacked, etc.), this will immediately affect the price of Bitcoin, and since 99% of altcoins follow it, altcoins will fall even more. 🚀The list of coins related to Binance: 🔥 BNB 🔥 TWT 🔥 CAKE 🔥 LINK 🔥 1inch 🔥 XVS ✅ Actually, the relation to Binance is the main reason why these coins just return to the accumulation areas, despite the other alts make -35-40% and go to the hell. 🚩 Traders, is this idea usefull for you? What do you think happen to Binance in the future? What coins do you recommend to buy at the bottom og the market? 💻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!
by Yuriy_Bishko
4
Will Bitcoin Test $10200 Level as Per Chart Year 2017 Support#Bitcoin weekly Chart Analysis:- $BTC Already broke 2017 Bull Market ATH Now Trying to Test 2017 Bull Market Support. Now Scenarios:- - $BTC already broke $19000 support which is bad for Bull - BTC may test $11000-$13000 Level ( If hit then that will be best for Accumulation) - 2017 Bull Market support is $10200-$11800 - For Actual Bull Market BTC must need to Break $25000 Level - if Break White Line Resistance ( Now Around $25000 ) then Ready for New Bull Relly. - Never Forget Buy and Hold Ruls - Many Bad News coming that’s mean we are Going in Right Path so Never Panic - More Panic news mean More Buying Opportunities for Bull Run
COINBASE:BTCUSDShort
by CryptoPatel
10
Can We Buy Bitcoin Now? Is The Bottom In Yet?As we have a new low many people are already wondering if the bottom is in, again... Patience is key. Wait for the weekly candle close, minimum. The same goes for today, short-term. Once a move starts to develop, it takes time before its final form shows up. Since we've been expecting a major crash like this one for many months, we can say that the bottom is not yet in, there is more to come. Patience is key... If you want the full details about Bitcoin's bottom, see the chart below from December 20221 (Dec. 4, 2021) And this one... Feel free to leave a comment with your questions. Thank you for reading. Namaste.
BITSTAMP:BTCUSD
by MasterAnanda
26
Bitcoin - Is FTX the Lehman Brothers of crypto?For weeks, we have warned investors about the unsustainable rally in the cryptocurrency market, and now, our price target of 17 500$ was finally hit. That comes to us as no surprise since we reiterated several times that no double bottom occurred and no primary trend reversal was on the horizon; already, in February 2022, we stated that no all-time high would happen this year. Instead, we made a compelling case for the bear market and have continued to do so while hitting one price target after another. With that being said, we continue to be bearish on Bitcoin and dismiss new calls about the market bottom. In fact, we want to remind our audience of articles we published over the summer about Celsius Network's insolvency and its contingency spreading over to other cryptocurrency institutions in the coming months. Now it seems FTX joined the list of troubling companies, with Binance announcing the buyout of its distressed assets. In our opinion, that is a particularly bearish development, further drawing a parallel between insolvencies in the banking sector in 2008 and now (but in the cryptocurrency sector). Unfortunately, though, we do not expect any improvement in the market with the FED pursuing tighter economic conditions and potential regulatory fallout (as so many cryptocurrency exchanges are going bust). Contrarily, we believe the bear market is far from over, and Bitcoin will mark new lows over time. Accordingly, we stick to our price target of 15 000$. *In the latter part of this article, we would like to introduce a part of Bitwise Asset Management's presentation to the SEC in March 2019. (about fake volume)* Illustration 1.01 Illustration 1.01 shows the daily chart of BTCUSD, and yellow arrows indicate the latest technical developments. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are bearish. Overall, the daily time frame is bearish. Technical analysis - weekly time frame RSI, MACD, and Stochastic all show signs of faltering. DM+ and DM- is bearish. Overall, the weekly time frame is bearish. Bitwise Asset Management presentation to the SEC in March 2019 In March 2019, Bitwise Asset Management (which created the world's first crypto index fund) made a presentation to the SEC about fake volumes on major cryptocurrency exchanges. In its research, the company analyzed volume and trade orders across 81 exchanges listed on Coinmarketcap. Additionally, it argued that the data reported by the website were wrong (despite Coinmarketcap being widely referenced in media - The Wall Street Journal, The New York Times, etc.). Bitwise Asset Management demonstrated the difference between real and suspicious exchanges (ones that were likely to engage in trade washing with the purpose of inflating trading volumes) by highlighting differences in the order book and showing discrepancies within the information available in the trading interface. For example, some exchanges showed buy and sell orders with roughly the same trade sizes, the absence of round numbers in the order book (despite the natural tendency of humans to pick rounded numbers), the lack of small transactions, perfect even distribution of buy and sell orders, and so on. However, researchers went beyond these technicalities and looked at these exchanges' footprints in the real world. Subsequently, by comparing publicly available data, they found a substantial difference between the real companies and suspicious ones (lacking media exposure, followers, number of employees, etc.). Furthermore, they analyzed trade histograms and applied several alternative data assessment methods. The 227-page presentation also touched slightly on the subject of Tether, market regulation, market surveillance tools, and market manipulation. In its findings, the company stated that at the time, only 10 out of 81 exchanges showed the presence of real volume, including Coinbase, Bitfinex, Kraken, Bitstamp, BitFlyer, Gemini, itBit, Bittrex. In addition to that, researchers concluded that the total volume was merely 4.5% of the reported volume (by exchanges) between 4th and 8th March 2019. As if it was not enough, the study stated that nearly 30% of spot bitcoin volume was on U.S.-domiciled exchanges, compared to just 1% of reported volume. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
66