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XRPUSD Ripple vs SEC and Technical Analysis Weekly **Fundamental Description: XRP and SEC Lawsuit Update** The ongoing SEC lawsuit against XRP has taken a significant turn as legal developments appear to favor Ripple. Adding to the optimism, there is speculation that if Donald Trump returns to office, SEC Chair Gary Gensler may face dismissal. This potential leadership change could bring a more crypto-friendly approach to regulatory policies, further boosting sentiment around XRP. Such developments, combined with Ripple’s growing use cases, strengthen the market’s confidence in XRP's long-term potential. **Technical Analysis: XRP Price Action** On the weekly chart, XRP has successfully passed the 0.786 Fibonacci retracement level from its all-time high, a notable bullish signal. However, the price is now testing the resistance at the July 2023 high. With two critical resistance levels in play, it’s prudent to wait for the weekly close to see how the price reacts. A clear breakout above these resistances could signal further upside, while rejection might indicate a period of consolidation. Patience is key as the market seeks direction.
BITSTAMP:XRPUSDLong
by vagada
LINK: About to reach a year-long resistanceIn this chart, BINANCE:LINKUSDT is inching closer to a critical level wherein the coin is about to touch a year-long resistance line dating back to June 2022. The highlights shown are the instances of the price breakout rejection, making it the strongest resistance for the year. In my view, a breakout is possible if we see a candle confirmation along with a good buy volume and other indicators continue showing bullishness of the coin. What should we do then if it breaks out? Identify your nearest support. I would do the process by backtesting as well as plotting retracements, and presented in horizontal lines are the potential resistance lines based on mentioned processes, a given of which is the Fibonacci retracement of .382 level from its all-time high (ATH) to its low level of approximate $7.60. On the other hand, a rejection could happen based on the RSI being near the overbought territory, an indication of potential selling. For visual reference, check the vertical line on the July 2022 price. Should you trade this coin now? You could do a scalp if you have the setup, scalp long for me since the trend is still upwards. For intraday traders like me, I would wait until it hits on the resistance line or common support breakdown. Always have a plan whenever trading by identifying our take profit areas and stop loss. Happy trading!
by luigi360swirl
What's up with that Mr Gensler? 🤨In our society, responsibility is a fundamental concept that helps to ensure accountability and fairness. In many situations, responsibility for negative outcomes can be traced back to the person or organization that was responsible for creating or managing the situation in question. For example, if a building collapses, the builder may be held responsible for failing to construct it properly. If food is found to be poisonous, the cook or food manufacturer may be held responsible for failing to ensure its safety. Similarly, when it comes to the regulation of securities markets, the SEC is ultimately responsible for ensuring that investors are protected and that markets operate fairly and efficiently. Isn't that right Mr Gensler? Overview: The SEC, or the U.S. Securities and Exchange Commission, is a regulatory agency tasked with protecting investors and ensuring that securities markets operate fairly and efficiently. Its mission is to promote capital formation, maintain fair, orderly, and efficient markets, and protect investors. The SEC is responsible for enforcing federal securities laws and regulating the securities industry, including the stock and options exchanges, broker-dealers, investment advisors, and mutual funds. It also oversees public companies and their disclosures, and has the power to bring civil enforcement actions against individuals or companies that violate securities laws. However, despite its best efforts, there have been instances in which the SEC's supervision has failed, leading to negative outcomes for investors or the broader market. For example, the SEC has been criticized for its handling of the Madoff scandal, in which Bernard Madoff was able to perpetrate a massive Ponzi scheme for many years despite numerous red flags. When the SEC's supervision fails, it can have serious consequences for investors and the broader market. Investors may lose money as a result of fraudulent or manipulative activities, and the integrity of the markets may be undermined. In such cases, the SEC may be held responsible for failing to detect or prevent these activities. The SEC takes its responsibilities very seriously, and has implemented a number of reforms and initiatives over the years to improve its ability to detect and prevent securities fraud. However, the SEC is not immune to human error or regulatory challenges, and must constantly adapt and evolve to keep pace with changing market conditions and new forms of securities fraud. 1. FTX, Made (and supervised) in the USA: The SEC's supervision of cryptocurrency exchanges like FTX would primarily be focused on ensuring that the exchange complies with relevant securities laws and regulations. As a cryptocurrency exchange, FTX may offer trading in digital assets that are considered securities under U.S. securities laws, such as tokens that are deemed to be investment contracts or securities. Here are some ways that the SEC might had supervised an exchange like FTX: Registration: Cryptocurrency exchanges that are involved in trading securities are generally required to register with the SEC as a national securities exchange or an alternative trading system (ATS). This would involve meeting certain regulatory requirements and complying with ongoing reporting obligations. Compliance: Once registered, the exchange would need to comply with various regulatory requirements, such as maintaining fair and orderly markets, preventing market manipulation, and ensuring customer protection. The SEC would monitor the exchange's activities to ensure that it is complying with these requirements. Enforcement: The SEC has the authority to investigate and take enforcement action against exchanges that violate securities laws or engage in fraudulent activities. This could involve imposing fines, requiring the exchange to cease certain activities, or pursuing legal action against individuals or entities involved in the exchange's operations. Policy development: The SEC is also responsible for developing and implementing policies related to securities markets and trading activities. The agency may engage in rulemaking or issue guidance to clarify how securities laws apply to cryptocurrency exchanges and other digital asset trading platforms. Overall, the SEC's supervision of cryptocurrency exchanges like FTX would be focused on ensuring that these exchanges are complying with relevant securities laws and regulations, and that investors are protected from fraudulent or manipulative activities. RESULT: FIASCO!!! FTX collapsed, isn't SEC to blame?🤨 2. Silvergate, Made (and supervised) in the USA: SEC does have some oversight over banks like Silvergate Bank. While the primary regulator for banks in the United States is the Federal Reserve, the SEC also has a role in regulating certain aspects of banks' activities, particularly in relation to securities. For example, Silvergate Bank provides services to cryptocurrency exchanges, which may involve the trading of digital assets that are considered securities under U.S. securities laws. In such cases, the SEC would have a role in regulating these activities and ensuring that they comply with relevant securities laws. In addition, the SEC has the authority to investigate and take enforcement action against banks and other financial institutions that violate securities laws or engage in fraudulent activities. Therefore, while the SEC's role in regulating banks is generally more limited than other financial regulators, it does have some jurisdiction over certain aspects of banks' operations, particularly where they intersect with securities markets. RESULT: FIASCO!!! FTX collapsed, isn't SEC to blame? 🤨 Mr Gensler and Mr Burns : Apart from the meme that has the two (Mr Burns from the Simpsons and Mr ary from SEC) appearing to be one: ☞Mr Gensler loves his Bitcoin (check his MIT free course on youtube ) ☞ Binance tried to hire Gary Gensler in 2018 for closer ties with U.S. regulators: Report ☞ SEC chair Gensler confirms “everything other than Bitcoin” is a security : Implications and analysis ☞ Latest from Mr Gensler on Bloomberg Technology (he is a happy guy lately) CONCLUSION 1: Mr Gensler and the SEC have been failing badly... 2 major collapses on YOUR watch, our dear SEC CONCLUSION 2: Mr Burns from the Simpsons won't let the price go over 25k. Seriously CONCLUSION 3: Just another delay for BTC which will eventually go where it belongs. And that (according to me and my humble opinion) is to new All Time Highs. One Love, The FXPROFESSOR ps. March Madness postponed but watch out, March has been a month with downs...and ups! I'm Long anyways
BITFINEX:BTCUSDLong
by FX_Professor
14
🤖 #BTCLIVE - 29.09 🤖🤖 #BTCLIVE - 29.09 🤖 TLDR: Short-Term (-1 Day) 70:30- Bullish:Bearish Mid-Term (1 Week+) 40:60 Bullish:Bearish Long-Term (1 Month+) 60:40 - Bullish:Bearish OVERVIEW: All things looking relatively bullish over the next day or so for BTC - there is still some significant resistance to get through at $20.5k region with long term trendlines and high resistances volume. September close is notoriously bearish, so I still expect this to ring true. Expecting some very heavy volatility tomorrow with the options expiration. Ultimately my general thoughts are that we are going to track up to about $20.5k and then have a very heavy retracement from there - this could well extend well below $19k back to the $18.7k support. We are nearing the end of this daily Descending triangle so a big move is expected out of that, they are a a pretty bearish pattern and the weekly descending wedge also suggests that a $16k is still on the cards without invalidating the pattern. So in a nutshell don't commit too heavy to longs rn , we still need to break this 20DEMA in order to get any where and losing $19.1k and the 200EMA on the 1hr will likely see the start of the downward movement. TECHNICAL ANALYSIS: +BULLISH FACTORS: + Low overhead Volume to $20.5k + Flipped VWAP + FLIPPED 200 EMA 1H + Holding Daily Support + Bullish Divergence on the Daily + Descending Wedge on the Weekly + Volume is consolidating for breakout BEARISH FACTORS: - 20 DEMA proving tough resistance - Overbought Rejection on Local Resistance - Descending Triangle on the Daily + Local trendline resistance NEWS: Bull: + Senator Lummis calls out U.S. leaders to welcome Bitcoin as it ‘can’t be stopped’ +🇦🇪 UAE's Ministry of Economy opens headquarters in the #metaverse. + UK investors turn to Bitcoin as GBP weakens, new data shows cryptopanic.com Bear: - Gary Gensler Speaking today Volatility * Powell speaking today at 3.15pm UK time * Options expiration on tomorrow MARKET SENTIMENT: Fear & Greed Index - Sep 28, 2022: Today: 20 (Extreme Fear) Yesterday: 20 (Extreme Fear) Avg. 1W: 22 😱 Avg. 2W: 22 😱 Avg. 1M: 23 😱 Avg. 2M: 28 😱 Avg. 3M: 27 😱 Avg. 6M: 23 😱 Avg. 1Y: 32 😣 🔸 #Bitcoin Price: $19,116 24h Low: $18,903 24h High: $20,339 MC Change: -$1.2B (-0.3%) Dominance: 37.7% 24h: -0.4% 7d: -2.3% 14d: -14.4% 30d: -4.8% 60d: -19.8% 200d: -51.6% 1y: -55.9% $BTC #BTC @bitcoin #bitcoin
INDEX:BTCUSD
by Kryptochristian
3
#HEX consolidation continues #HVF pattern still valid Notice how the selling of this 3rd down draft is at a reduced angle in time. In amidst the regulatory pressure from Gensler and his wide net approach of calling everything a security It is more important to ever to note the unique properties of HEX No ICO No Premine I year launch phase during which Bitcoin holders were able to claim and mint their own HEX using a cryptographic signature completed product from day 1 No roadmap or team of developers to fund. Users mint their own coins/rewards/interest No centralised authority is required. Coins trade on DEX's In essence true defi
Long
by BallaJi
2