Get started

SEC

ETH - It is Happening! 🦋Hello TradingView Family / Fellow Traders, As per my last analysis, shown in the attached chart, ETH rejected the $3000 round number and surged by over 20%. What's next? 📈As long as the $3500 round number holds, we expect a continuation towards the previous all-time high of around $4800. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! And always remember: All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
XRP and the US Coinbase Trader Participation GapCoinbase recently relisted XRP and with that, a trading gap appeared, but interestingly enough, if you look at just the price action that US traders participated in via Coinbase, you will find that XRP has indeed completed an AB=CD move. On the other hand, the original target was 2 dollars when looking at the price action globally, but I think the US trade data is most likely to take precedence over the global data, and due to that, I have plotted an ABCD on the left chart that ignores all the non-US data and only includes the data in which the US was involved in. Doing this ends up making our ABCD PCZ a 1.13, which lands just under 1 dollar. As typical, the profit target for such a pattern would be back to the level of C, so in this case, around 20 cents, which would fill the US Gap.
BITSTAMP:XRPUSDShort
by RizeSenpai
XRP Price Action Looks to be Setting up for a Rise to 2 DollarsWe have a 3 Rising Valleys Pattern that has recently formed on the weekly timeframe, and we recently had a confirmed weekly Bullish Engulfing; if XRP manages to get back above 51 cents from here then it will likely begin to move fast towards it's last swing high of $1.96 but at the same time this is XRP we're talking about so it could go much higher because it is trading within in a massive macro consolidation wave structure on much higher timeframes and I have projected could take XRP up to as high as $120.94 whenever XRP truly decides to get going which can be seen here:
BITSTAMP:XRPUSDLong
by RizeSenpai
2
FTX To Return Money To Former Customers FTX customers to get money back: Lawyers for bankrupt crypto exchange FTX said customers will receive the funds lost when FTX went bankrupt in November 2022, plus interest. The payout will likely take months and still requires approval from a bankruptcy judge. Regulator cracks down on Robinhood: The SEC has issued a Wells Notice informing the crypto arm of Robinhood that it will face upcoming enforcement action. Robinhood maintained the crypto token assets in question are not securities and expressed readiness to contest any charges. Grayscale's Bitcoin Trust (GBTC) reverses four-month outflow trend, BTC remains stable: The ETF saw significant new inflows and contributed to a positive shift in the overall spot Bitcoin ETF market. Meanwhile, the price of BTC remained stable over the past week as investors settle into what analyst described as “post-halving boredom.” Binance CEO Richard Teng calls for release of Tigran Gambaryan: Nigerian authorities have detained the crypto exchange’s compliance officer on charges related to illegal transaction. Hacker responsible for stealing $125M from Poloniex in November moves $35.3M worth of Ethereum and Bitcoin: Some of the funds were moved to the sanctioned mixer Tornado Cash, in attempts to obscure the origins of the stolen funds. 🤑 Topic of the Week: Anti-Money Laundering (AML) 👉 Read more here
GEMINI:BTCUSD
by Gemini
BTC - Bearish Short-Term Until...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 After breaking below the last major low in red, BTC has been bearish from a short-term perspective trading within the falling channel marked in red. 🏹 For the bulls to regain control, a break above the upper red trendline is needed. Meanwhile, further bearish movement towards the lower bound of the red channel would be expected. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
SEC Charges Trump Media Auditor With Massive Fraud Stock Slides The US Securities and Exchange Commission (SEC) has charged former president Donald Trump's auditor, Benjamin Borgers, with a "massive fraud" and a "sham audit mill." The SEC alleges that Borgers did not properly prepare and maintain audit documentation, fabricated audit planning meetings, and passed off previous audits for the current audit period. The SEC claims that Borgers and his firm were responsible for one of the largest wholesale failures by gatekeepers in financial markets, putting investors and markets at risk and undermining trust and confidence in markets. Of 369 BF Borgers clients whose filings from January 2021 through June 2023 incorporated BF Borgers' audits and reviews, at least 75% incorporated audits that did not comply with the SEC's rules. The company acted for Trump Media ( NASDAQ:DJT ) during the period of the SEC's complaint. In late March, Trump Media merged with a publicly traded shell company, Digital World Acquisition Corp, in a deal that valued the minnow social network at close to $8bn. The company now trades under the ticker symbol "DJT", using Trump's initials. Trump Media's shares ( NASDAQ:DJT ) have fallen sharply since their debut but have continued to significantly boost the former president's wealth. The company is now valued at more than $6.5bn, with Trump as the company's largest shareholder and recently qualified for a bonus for the company's share performance that boosted the paper value of his stake to $3.7bn.
NASDAQ:DJT
by DEXWireNews
6
Crypto Slides Amid Stagflation Concerns & Gloomy Economic DataThe cryptocurrency market has retreated under the shadow of renewed concerns about US stagflation. Federal Reserve chair Jerome Powell left the benchmark federal interest rate at between 5.25% and 5.5% at the latest FOMC meeting Wednesday, citing sticky inflationary pressures and a lack of recent progress toward their 2% inflation target. However, Powell downplayed the idea of needing additional rate hikes. “It’s unlikely that our next policy move would be a rate hike,” Powell said. Economic data revealed a slowdown in US GDP growth to 1.6% this quarter and a 3.4% increase in the PCE index – the Federal Reserve’s preferred inflation metric. However, Powell also downplayed the notion that stagflation had arrived. “I don’t really understand where that’s coming from,” Powell said. “I don’t see the stag or the flation.” After BTC had reached an almost two-month low at roughly $57,000 on Wednesday, the price rallied to $59,269.80 as of press time Thursday. ➗Topic of the Week: How do Interest Rates Work? ➡️ Read more here
GEMINI:BTCUSD
by Gemini
BTC Binance FUD - 20k or Bear-trap?Bitcoin has fallen over 6% in mere hours after the announcement that one of the largest crypto exchanges, Binance, is being sued by the SEC. Now seems the best time for me to put in buying orders at certain support price levels. I see three Scenarios: 1.The news that SEC is suing Binance will have no short term aftereffect on the Bitcoin price. The price will recover quickly. This seems unlikely based on negative historical BTC events, which are usually followed by heavy panic selling and bear whale market manipulation. I expect the price to be pushed down lower than here. No Plateau continuation likely. 2. I expect the price to be pushed by the bears, towards the Golden Ratio of the Fibonacci Retracement, at which point we will see a hard support level. At this point, the FUD has been likely exhausted and the bulls are back in play. We might Plateau here for a while at 24-25k (+/-0.3k). High probability scenario. 3. We see more/new FUD, which sends the panic selling into overdrive. The Golden Ratio support does not hold. The BTC price will take a hit and I expect this will push the price down to the low 20k's (+/-0.3k). Unlikely, but possible scenario. Next support level will be at 20 - 17k.
BITSTAMP:BTCUSDShort
by GoldArti
Nailing Bitcoin Analysis: Amidst FUD, SEC,ETF, FEDS and More🔮🎓 Nailing Bitcoin Analysis: Amidst FUD, SEC, ETFs, FEDs, and More 🚀💡 Traders, it's FXProfessor here! We're slicing through the noise of FUD, navigating SEC updates, analyzing ETF flows, and eyeing the Fed's next move, all while my Bitcoin long ideas continue to be spot-on. 🧭📊 In the wild world of crypto, where every headline can stir the pot, staying focused on the facts has been the key to our success. 🌪️🗝️ Despite the fear, uncertainty, and doubt that often clouds the market, our analysis remains a beacon, guiding us through uncharted waters. 🛳️🌊 Let's dive into the ETF developments that are making waves. 🌐📈 The recent data paints a picture of resilience, with overall positive inflows since their launch. The ledger of financial flow tells a tale of alternating currents, with some days in the green and others in the red. 💸🔄 Grayscale's outflows have been dominating the scene, yet there's a silver lining as these outflows have been on a steady decline. 📉🔜 In the ETF arena, Fidelity and Blackrock are the champions, outperforming with impressive inflows. 🏅💼 Despite the skeptics raising eyebrows at the $1 billion inflow over a fortnight, let's not forget this is an unprecedented victory lap for the ETF sector. 🏁🏆 As we know, in the world of crypto, what's seen as a sprint may very well be part of a marathon. 🏃‍♂️🔄 With a hawkish eye, we'll continue to monitor these numbers, knowing they hold the power to sway Bitcoin's supply-demand scale. 🦅🧮 More inflows translate to a tighter supply on the spot, potentially propelling prices upward. 📊↗️ Stay tuned as we chart this journey with precision and prowess, armed with the FXProfessor's insights. 📚🎩 🏁🚦📈 1-2-3-GO!!!🧐♟️ Keep in mind we had 1 rejection at 48,5k...expecting another one before the breakout.🌟💥 One Love, The FXPROFESSOR 💙📉 ETFs Flow:
COINBASE:BTCUSDLong
by FX_Professor
1
Uniswap Faces Regulatory Heat: Whales Dump $20 Mln Worth of UNI Uniswap, the decentralized exchange platform, is facing a tumultuous period as its native cryptocurrency, CRYPTOCAP:UNI , experienced a sharp decline of 15% following news of a Wells Notice from the U.S. SEC. This development has triggered massive liquidations, with whales offloading millions of dollars worth of CRYPTOCAP:UNI tokens. Uniswap Price Plunge: Within hours of receiving the SEC notice, Uniswap's price plummeted by 15%, leading to significant market turmoil. Daily trading volumes surged by over 300%, indicating heightened market activity and investor concern. Whales in Action: Top holders swiftly reacted to the news by liquidating their UNI holdings, with whales dumping over 2 million CRYPTOCAP:UNI tokens, totaling $20 million. This mass sell-off further exacerbated UNI's price decline, with significant transfers and sales reported across various wallets. Founder's Response: Uniswap founder Hayden Adams expressed frustration over the SEC's actions, emphasizing the potential impact on consumer interests and the broader industry. He anticipates a prolonged legal battle with the regulator, emphasizing the need to defend Uniswap and the decentralized finance sector. Future Implications: The ongoing conflict between Uniswap and the SEC holds significant implications for the future of decentralized finance and financial technology. With the outcome likely to shape regulatory frameworks and industry practices, stakeholders are bracing for a protracted legal struggle. Technical Outlook Uniswap token ( CRYPTOCAP:UNI ) is trading below the 200-day Moving Average (MA) with a weak Relative Strength Index (RSI) of 23 indicating an oversold territory. Bears have taken control of the market prior to the SEC's probe on Uniswap. Conclusion: As Uniswap navigates regulatory challenges and market volatility, the platform's resilience and ability to withstand regulatory scrutiny will be put to the test. The fallout from this episode could redefine the landscape of decentralized exchanges and set precedents for regulatory oversight in the burgeoning cryptocurrency space.
Short
by DEXWireNews
HEX v BTC follow up chart --- inv hunt Volatility funnelWe saw some wild price action even in the past two days on the HexUsd chart with a wick down to $0.003791 This is not Good obviously I post not to cause panic and with as much neutrality as possible given the fact I know Hexicans sitting in heavy losses. The usd chart has a bear flag that has already broken to the down side pointing towards $0.001745 If BTC was to move higher in the opposite direction We can see this idea reaching it's target a further -70% loss against Satoshi's coin. @TheCryptoSniper
CRYPTO:HEXUSDShort
by BallaJi
8
$420 on 4/20 for $COIN 🌬🍃💨The BTC halving is officially upon us come April. The amount of positive news around this entire sphere lately has been amazing. I'm shocked how many people I see on here shorting $COIN. They are about to be custody holders of the SPOT ETH ETF assuming that gets approved by the SEC- whether as a security or commodity. Larry Fink is feeling very confident and Fidelity just applied as well... Maybe I'm entirely wrong- I recognize this is unbelievably optimistic. But I'm unbelievably optimistic in Bitcoin and crypto currently. And if I'm right, this will be a 4/20 to remember.
NASDAQ:COINLong
by seqwhence
XRP Holders on Edge: Navigating Legal UncertaintyRipple ( CRYPTOCAP:XRP ) finds itself embroiled in a legal saga fraught with uncertainty. Recent developments surrounding a federal judge's ruling against Coinbase have reignited speculation and raised concerns among CRYPTOCAP:XRP holders about the potential implications for the ongoing legal battle. The crux of the matter lies in Judge Analisa Torres' previous verdict affirming XRP's non-security status—a decision that has been called into question following Judge Failla's refusal to consider it as precedent in the Coinbase case. Instead, Judge Failla opted to lean on the analysis of Judge Jed S. Rakoff, who cast doubt on Torres' ruling and emphasized the Securities and Exchange Commission's (SEC) jurisdictional arguments. Judge Rakoff's stance has cast a shadow of uncertainty over XRP's regulatory standing, prompting speculation that Ripple Labs may consider a settlement to mitigate legal risks. The possibility of revisiting Judge Torres' ruling and the potential for a new appeal from the SEC loom large, underscoring the complex legal landscape Ripple must navigate. Amidst mounting legal pressure, Ripple CEO Brad Garlinghouse and the company's Chief Legal Officer, Stuart Alderoty, were recently spotted outside a New York courthouse, fueling speculation of a forthcoming settlement conference. This development hints at Ripple's willingness to explore alternative paths to resolution as it seeks to mitigate legal uncertainties and restore investor confidence. The implications of Ripple's legal battle extend far beyond the courtroom, reverberating throughout the cryptocurrency market and impacting investor sentiment. With regulatory clarity remaining elusive, stakeholders are left to grapple with the uncertainty surrounding XRP's regulatory status and its broader implications for the cryptocurrency ecosystem. As Ripple ( CRYPTOCAP:XRP ) teeters on the precipice of legal uncertainty, the path forward remains fraught with challenges and complexities. Whether through litigation or settlement, the resolution of Ripple's legal battle will undoubtedly shape the future trajectory of CRYPTOCAP:XRP and influence the broader regulatory landscape for cryptocurrencies.
by DEXWireNews
4
MATIC: Major Lawsuits and the Long-Term TrendPrimary Chart: Monthly chart of MATIC (Polygon) with Monthly Four-Year Uptrend Fundamental Issues Arising from Recent SEC Legal Actions Significant fundamental concerns have been brewing relating to Polygon / MATIC. The United States Securities and Exchange Commission (SEC), is the primary securities regulator in the US that handles securities registration, enforcement, and efficiency of capital markets. The SEC has recently named 13 securities that it alleges to be unregistered securities including the subject altcoin. This came as part of this agency's enforcement action (lawsuits) against Binance Holdings Limited, Changpeng Zhao, et al., as well as its action against Coinbase, Inc and Coinbase Global, Inc., essentially the Coinbase exchange. The SEC alleges defendants' "blatant disregard of federal securities laws and the investor and market protections these laws provide." Section 5 of the Exchange Act requires entities meeting the definition of exchange to register with the SEC as a national securities exchange under the Exchange Act unless exempted. Similarly, broker-dealers are required to register with the SEC under the Exchange Act as well, 11 U.S.C. § 78o(a)(a) (typically, broker dealers are defined as persons engaged in the business of effecting transactions in securities on the account of others). And offering and selling unregistered securities is also a major violation of the securities laws that carries severe legal consequences. Coinbase Inc., for example, is alleged to have never registered with the SEC as a broker, national securities exchange, or clearing agency. Accordingly, the SEC argues that Coinbase has unlawfully "evaded the disclosure regime" that federal law provides for securities markets. All these legal actions depend on on a pivotal concept: whether the crypto assets involved are securities. Broker-dealers by definition effect transactions in securities , so determining whether crypto assets are securities is a vital prerequisite to determining whether the defendants unlawfully effected transactions in securities on the account of others. Similarly, the registration requirement for exchanges depends on entities meeting the definition of exchange, which requires that the exchange constitute, maintain or provide a market for buyers / sellers of securities . If none of the crypto assets are deemed securities, then much (if not all) of the enforcement action would fail. Conversely if any one of the crypto assets is deemed a security, then the enforcement action would succeed at least in part. Further, if the altcoins are legally held to be unregistered securities, then the exchanges may have unlawfully failed to register as exchanges, which registration comes with heavy disclosure requirements, and defendants may be liable for engaging in multiple unregistered offers and sales of crypto assets deemed as securities as well as other illegal schemes. Further panic has been arising from derivative effects of these actions. To illustrate, reports have also circulated that Robinhood, a widely used trading platform for retail, has been "delisting" (dropping from its platform) major crypto tokens, although SquishTrade will recommend readers research this issue further for confirmation. Even if such reports were not correct, they instill panic, and their effects plainly follow from the legal actions. This discussion of fundamentals are presented solely for context . This post will not delve into further detail about the litigation nor will it discuss whether the legal actions are well grounded in fact or law. No speculation will be raised as to the probable legal outcome or ramifications of a particular adverse judgment against any crypto exchange defendant. Instead, the focus will remain on price, which is the best and most efficient processor of all fundamental information available. It's not always efficient and timely, but it is likely faster processor of all fundamental information than the best research team on the planet. Technical Analysis Focused on Longer-Term Trends Polygon (MATIC) has fallen over -32% in the past 10 days since June 1, 2023. Since the swing high in February 2023, MATIC has plummeted approximately –67.55%. The recent sharp downdraft in various altcoins may appear formidable, p and befuddling especially to those focused on intraday or even daily time frames, i.e., trends of much smaller degree than the ones shown here. Further, with leverage or oversized positions, a position traders may be stunned and unable to manage their positions. This would be true even for an experienced trader who had the foresight and discipline to buy the December 2022 lows ($.75) who may still be significantly underwater at this point if profits were not taken in a strategic or programmatic way. However, longer-term investors / position traders in this Ethereum-based Polygon network may do well to zoom out somewhat given the news. Doing so, they might discover that the very long-term trend remains higher in Polygon. Consider the 4-year uptrend line on the Primary Chart above. It hasn't been touched since November 2020. Furthermore, the long-term Fibonacci retracement levels (logarithmic only) show that even the shallowest of the widely followed levels has held as support since the peak in December 2021. The shallowest retracement level, Fibonacci .236 proportion, is shown below in Supplementary Chart A at $.53. Supplementary Chart A The next shallowest level is the Fibonacci .382 retracement (again on the highest degree of trend available here), which falls at $.19, also shown in magenta on Supplementary Chart A above and Supplementary Chart B below. Supplementary Chart B Of course, uptrends frequently retrace to .50 and .618 retracements as well. This could take MATIC to significantly lower levels shown in gold and green lines on the Primary Chart above. But discussing such distant Fibonacci support levels under .085 might be getting a bit ahead of where price action trades now. As shown on the Primary Chart, the uptrend line for 4 years has not been tagged since November 2021. This is not to say that it won't be. SEC enforcement actions are not to be taken lightly by investors or the defendants. A couple more long-term technical levels that are more dynamic should be mentioned. Supplementary Chart C shows an both an anchored VWAP from the all-time high and an all-time low (based on available data for Matic Network / TetherUS). Notice how the major low of 2022 tagged the anchored VWAP from April 2019 where the data begins on the chart. And MATIC's price found resistance at the VWAP anchored to the all-time high repeatedly, with one false break above it, confirming this level as strong resistance. So a trend-based analysis based on volume-weighted average price tells us that price remains in sideways consolidation within a very long-term uptrend—at least until price breaks and holds below the VWAP from the all-time low . Supplementary Chart C No one knows what will happen if price arrives at this uptrend line, but many trend-based traders and investors look for risk-defined entries at very long-term trendline support, with tight risk at / near the line itself to play for a sizeable bounce at a minimum or even a resumption of the larger-degree trend higher. But if the trendline is invalidated, the risk will have been kept small. Managing risk is vital since no one can say with certainty whether a trend will resume or whether it will resume at the trendline where it resumed after past countertrend moves. The same can be said for the key Fibonacci levels, each one providing a trend-based investor or analyst with another pivot to watch for support where a countertrend retracement may end and the shorter term trends realign with the longer-term trend. Does this longer-term trend provide absolute reassurance, a guarantee of sorts, that many nervous crypto investors want concerning whether this long-term trend will remain intact? No. In fact, no such guarantees exist in financial markets—this holds true regardless of whether one is bullish, bearish or non-directional / neutral. The aphorism in trading and investing is to make the trend your friend until the end, when it bends. Even long-term trends break, adjust, change, or reverse. To illustrate, consider that the upward trendline shown on the primary chart (monthly) could be broken and reconstituted if monetary policy continues to remain tight (or even to whipsaw as some argue). This may not mean a trend reversal on this very high degree of trend, it may just mean that the trend continues albeit at a less steep slope. Trends with steeper slopes have a tendency to be broken more easily than trends with less steep slopes (in downtrends or uptrends). This may be a result in part of the mean-reverting nature of price action on all time frames, from the shortest to the longest. In technical analysis, trend continuation should be favored over trend reversal. Further, when bullish trend-based supports are reached, no one ever feels that good about going long because the news has been awful to get price down to that level. And here, the term "trend" refers to the 4-year trend shown on the Primary Chart, which may be deemed an extended primary trend (which typically fall between 6 months and two years but can extend longer) or even a secular trend given its duration. In short, if a countertrend move is occurring, traders and investors should consider it more likely for the trend to continue than for it to reverse on this time frame and degree of trend. This is not a recommendation to buy or sell MATIC. Instead, this is an attempt at an objective conversation about longer-term trends in this altcoin in light of recent regulatory lawsuits involving whether it may be an unregistered security as held on most exchanges. SquishTrade at the time of writing holds no position in MATIC or any MATIC derivative. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
Editors' picks
M
by SquishTrade
33
Judge Rules SEC Lawsuit Against CoinbaseA judge has ruled that the Securities and Exchange Commission's (SEC) lawsuit against Coinbase ( NASDAQ:COIN ), the leading cryptocurrency exchange, can proceed to a jury trial. This ruling marks a pivotal moment in the ongoing battle between Coinbase and the regulatory authorities. Moreover, NASDAQ:COIN surged by 3.28% igniting bullish sentiments on the stock amidst court rulings and Cathie Woods stock sell-off on Coinbase ( NASDAQ:COIN ). The SEC's lawsuit, filed in June, alleges that Coinbase ( NASDAQ:COIN ) violated securities laws by operating as an unregistered broker and exchange. Specifically, the SEC claims that Coinbase's staking program involved the unregistered offer and sale of securities. While the judge dismissed one of the SEC's claims related to Coinbase's wallet application, she upheld the allegation regarding the staking program. Coinbase ( NASDAQ:COIN ) , for its part, has been steadfast in its defense. The company's Chief Legal Officer, Paul Grewal, expressed confidence in their legal arguments and emphasized their eagerness to uncover more about the SEC's internal views on crypto regulation. Despite the setback of the court's ruling, Coinbase remains resolute in its commitment to advocating for comprehensive digital assets legislation. This ruling sets the stage for a potentially lengthy legal battle between Coinbase ( NASDAQ:COIN ) and the SEC. As the case progresses to trial, both parties will have the opportunity to present their evidence and arguments before a jury. The outcome of this trial could have far-reaching implications for Coinbase, the broader cryptocurrency industry, and the regulatory landscape governing digital assets. Regardless of the eventual verdict, one thing is certain: the outcome of this trial will shape the future of cryptocurrency regulation in the United States. As Coinbase ( NASDAQ:COIN ) continues to navigate the complexities of regulatory scrutiny, the eyes of the crypto community remain firmly fixed on the courtroom, eagerly awaiting the resolution of this high-stakes legal showdown.
NASDAQ:COINLong
by DEXWireNews
1
An Optimistic But Volatile Future Ahead For EthereumHi everyone, I should preface and say I am a relatively new ETH investor. I was primarily a strict BTC maxi since 2017, but after putting in the time last year to learn about ETH and what its core philosophy is, I understand it better and I am actually very interested in what it is capable of! I think many of the ETH community can vouch for that. It's hip, cool, and experimental. I honestly think there are many BTC maxis that refuse to accept this is fundamentally a different project than BTC was- not just technologically. For those not involved in crypto- or are just average retail investors, ETH may just seem like a 2nd coin behind BTC that does all the same stuff "basically". That was just me being naïve and stupid, and I unironically thought like this for years. I love the fact that the ETH community rallies behind it so hard. They are a very different group than many of the BTC investors I follow and have followed in the past. They seem to have a really strong core and tight knit community that do not care much about what 3rd party entities will tell them what to do or who to be. The developers (mostly) all seem incredibly passionate and want to really create practical and also experimental projects. I think mentioning this context is essential in my TA because ETH investors fundamentally believe in the core project so much that I think they will successfully create some type of "mainstream" adoption within the next 10 years. I have no clue how that will look like- and I don't think anyone does yet. But the ETH community has a strong spirit that I do not see breaking- ESPECIALLY with Larry FInk and BlackRock still in the equation. They just partnered with Securitize and are going to slowly begin to execute their "tokenization" of assets. This leads into the biggest news of the year for Ethereum, the ETF. As much as I want this ETF to pass on May 23rd, it will not. I don't know how it will go down, but this will be prolonged somehow. And I do not see the market reacting lightly to the news for the mid term (basically all summer). Gary Gensler really does not seem comfortable even speaking about ETH any time he is being recorded. The SEC is currently asking for more funding to lawyer up against the potential future court cases that WILL happen when the ETF gets denied. The SEC seem incredibly nervous about opening up a door that can't be shut- if the ETH ETF gets approved, I can only imagine how many other chains will want to have their own ETF... No matter what you think of other coins, it seems like the SEC and Gary really do not like crypto all that much and are only really willing to let BTC slide. I think they want congress to eventually enact real legislation against cryptocurrency as a whole in the future. I think something will happen in between May 23rd and August 7th, the day BlackRock's ETF filing expires- but I'm not sure what exactly. I think the most likely case is they go to court and the SEC loses in court. Maybe the ETF gets approved with an amendment that there can be no staking the ETF? Do people even care about this? (sorry if so) The best current argument seems to be that there exists ETH Futures ETF, so why would an ETH ETF be an issue? And then by August 7th, the BlackRock ETF should be approved and Ethereum is going to launch. My gut tells me it goes for the 10k push into the end of the year, and then we consolidate early 2025 with a final blowoff maybe middle of 2025. Who knows after that, prob bear/crab market until next halving like close to 2028-2029 or around there. Very exciting times ahead! Personally I'm incredibly nervous with my investment in ETH. I'm still a BTC maxi to the core because it really is just the best sound money to ever exist. I really consider it my true savings account at this point. But ETH is my risk bet. I fully trust in that ETHBTC ratio and have watched that thing for years- despite never having any interest in purchasing Ethereum. I've also gotten burned in the past- having bought LTC at its peak in 2017 and holding still to this day... I have no more faith in that project honestly. I don't want this to happen to ETH, and I can say that I really do believe in its community. I hope the developers and companies out there innovate some really cool things that make our lives better/easier. But I do see ETH really as a long term investment, whereas BTC at this point for me is essentially just savings that I am not getting rid of anyways. Cheers everyone, I think no matter what, that if you own ETH and you hold, you will win in the long run. Good luck to the traders too!!
COINBASE:ETHUSDLong
by seqwhence
1
Believe ItI know I am! I think we are in a "mini" phase pre-end of spring where we just keep ripping it up. There's just too much good news coming out each day about Bitcoin itself. The ETFs have been a massive success, I was blown away by the inflows today. And cherry on top, we have a halving coming up in the next month. Accept and embrace the bull. This is my most optimistic run out of the next month and a half for Bitcoin. I just copied the earlier run up over, because I think nothing has changed since. We push up, we consolidate and breathe, and run it back. I think it starts to get a bit more iffy in the mid term with end of May and summer? (I'm nervous of the whole SEC vs. ETH situation) Maybe not though, I'm not sure what bad news about Bitcoin will come out by then and how severe it will really be. I've been here for years and this really feels like it's a full on bull run going head on into the halving again- I think this may be the moment we've been waiting for. We'll see though- I'm always surprised by BTC, for better and worse. I don't want to think of pessimistic outcomes because I genuinely can't think of any negative outcomes at the current moment for BTC. It will always carry the rest of the field and the amount of institutional and public attention growing each day has been so unbelievable for me to watch in real time.
COINBASE:BTCUSDLong
by seqwhence
Bitcoin Breakout Soon (April-May 2024)I'm fairly certain we are about to have a BTC breakout. Bulls have successfully defended $60k for ~2 weeks now and we are about to move into (arguably) the two most important BTC and crypto months of all 2024. The halving is coming up. ETH ETF decision should bring some volatility- despite approval or not. The past 2 weeks have been an incredibly healthy correction from the run up to the ATH. Do I think it's possible we break down to $59-$56k? Yes. But in this scenario I imagine it being fueled by FUD and will be bought back up fairly quick. If this scenario plays out, just based on overall current sentiment, I could see investors viewing this as incredibly bullish and we continue on with this cycle's uptrend. There is a chance we continue to chop/crab for a bit longer- but I would guess that only lasts 1-2 more weeks at best. As we get closer to the Halvening, I find it incredibly unlikely we see a big sell off. This is not an uncommon opinion- I think many reading this would agree with me. Could we go up and see a bit of uncertainty as the Halvening date crosses? Of course. But based on the current trend, sentiment, and overall blockchain/crypto ecosystem, I don't see how we continue downwards through April and May. I see loads of potential in these next two months. Good luck traders! But even more luck to the HODLers!
BITSTAMP:BTCUSDLong
by seqwhence
2
XRP Holders Are Beginning to Lose Hope on the AltcoinXRP traders have accrued about $31 million in losses over the last week in trading. Traders are shedding their XRP holdings and on-chain activity has dropped since the altcoin bridged its year-to-date high on the 11th March, 2024. Technical Analysis CRYPTOCAP:XRP price is at risk of further decline as holders anticipate developments in the SEC vs. Ripple lawsuit. CRYPTOCAP:XRP price broadly consolidated above $0.60 on Thursday currently trading at $0.6233 up by 2% as The Securities and Exchange Commission (SEC) is set to file its remedies-related opening brief on Friday. According to Ripple and SEC’s agreement, the proceedings will remain sealed from public view and this has increased XRP holders’ anticipation of the developments in the legal battle. CRYPTOCAP:XRP quickly dropped below the key support level at $0.60 on Thursday morning and surged to $0.6234. The altcoin has repeatedly tested the $0.60 support and rebounded from it, signaling its importance for the altcoin. If the bears gain momentum, CRYPTOCAP:XRP could potentially drop to $0.5464. Moreover, the altcoin could collect liquidity at this level, it could see a rebound and target a new resistance level of $0.6886. Meanwhile, the Relative Strength Index (RSI) has shown a moderate growth rate for the asset at 51 indicating a neutral Pendulum bulb here. No overbought neither is there oversold scenario. On-Chain Metrics On-chain metrics pose a loss of interest in CRYPTOCAP:XRP while the altcoin faces a price correction. CRYPTOCAP:XRP has considerably decrease in on-chain activity, as measured by the Active Addresses and Whale Transaction Count of those transfers valued at $100,000 and higher. according to Santiment’s on-chain data, CRYPTOCAP:XRP reached its year-to-date peak on March 11 and since then these two metrics have been declining steadily. This occurs at the same time as XRP’s price has corrected. Ripple lost nearly 20% since March 11 together with the drop in activity.
Long
by DEXWireNews
2
#HEX vs #ETH one crazy S/R Line A great study of a Key level / ratio Key levels on charts are where significant price action occurs over the course of time. For the HEXETH chart 0.000002 has proven one of the most interesting and pivotal for sure. If we had of broken down these past 5/6 months Then it could be argued it would be signalling an abandonment of this project ( at the least on the ethereum side) but the continual support and wick action indicated footsteps of big players coming and seeing it as a value zone. This could be a nice spring for this ratio going forward. With a W formation also appearing to be forming. Best of luck in your speculations.
CRYPTO:HEXUSDLong
by BallaJi
PULSECHAIN Can 2.6X versus #ETH - W PatternWow #PLS got destroyed. Retail investors got dunked on. Richard Heart conducted a crowd raise to the retail public with no cap. It was heavily hyped. So it was heavily oversubscribed. there was no vesting period usually 1-2 year period after a launch is the norm for VC/ accredited investors. Expectations were not aligned with realities for normal people. This allowed for a free for all of heavy selling during which the network was just getting started & bootstrapped. So I feel the pain of people who waited for 2 years only to have PLS drop 90% against #Ethereum whilst ETH found it's bear market bottom at 880 dollars. A double kicking to your private parts. Max pain also brings Max reward. Crypto profits are harvested from the tears of people who buy and sell at the wrong time. I believe we can start seeing a recovery in this ratio going forward and Also I still believe ETH will kick on to $3400 very soon.
WLong
by BallaJi
11