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BNB Binance Coin Sell Opportunity? BNB (Binance Coin) may face potential downside risks as a bearish outlook looms over the cryptocurrency. The recent surge in price could be seen as a sell or short opportunity, primarily due to the ongoing lawsuit against Binance by the US Federal Reserve (FED). The FED lawsuit raises concerns about regulatory scrutiny and potential consequences for Binance, which could have a negative impact on the value and reputation of BNB. If the lawsuit results in unfavorable outcomes for Binance, it may weigh heavily on the coin's performance in the market. Investors considering BNB should carefully evaluate the potential risks associated with the regulatory uncertainty surrounding Binance. My short term price target for BNB is $225. Looking forward to read your opinion about it.
Short
by TopgOptions
5
Current Pull-Back: A Perspective Using NASDAQ 100 WeeklyCME_MINI:NQ1! has had the sharpest pullback in last couple of weeks. The Semiconductor Industry NASDAQ:SOXX has been the largest driver in this selloffs. In this Trend Analysis, I tried to draw a perspective as to how deep this pullback could be given Support and Resistance areas that stood the test of time in recent years. I used Weekly chart to gain a broader perspective of where the index will end up in coming months. It is easy to establish that the TOP of the Current Rally (~16,100), i.e., the Resistance has been determined by the Start of the Recent Bear Market in 2022. Which technically started with the collapse of the Post Pandemic Rally in early January, 2022. This is the most important Control Level that the current market needs to break for a further rally in the future. The Bear Market in 2022 was strictly bound by the Wedge Resistance as we can see. The same phenomenon can also be shown by simply drawing an Anchored VWAP from the All Time High. Throughout the course of the Bear Trend CME_MINI:NQ1! could not break above the AVWAP. After the market established a bottom between October and December of 2022, it finally broke above the Wedge in the last week of January, 2023. We can call this the beginning of the current Bull Market. NASDAQ eventually broke the AVWAP in the last week of March 2023 to further confirm the Bull Trend. The AVWAP has worked as a Support Level since then until the market boosted up in May. Now coming back to the Current Pull-back, It is not hard to identify that there is a possible Support Area at the bottom of the range (~14,775) which the Current Bull Trend has established. If this Support Level is held then the projected size of the pullback from the top will be approximately 8.0 %. Current price action has confirmed a breach of the Short Term EMA cloud in the Weekly chart. In the Daily chart it came down below the 50 day Moving Average which indicates Short Term bearish tendency. If CME_MINI:NQ1! doesn't take support at the Range Bottom, then we could think of the Long Term EMA cloud as secondary Support Area. The next Support Area could be the AVWAP from ATH. For now, there is no reason to believe that there will be a lingering pull-back in the market going forward to start another Bear Market. Our best "hope" is that the market will take support and continue the Bull Trend in coming months. Please note that historically, in Pre-election years, August and September had been the most bearish months. This write-up is solely based on Technical and Trend Analysis to figure out the best case scenario. Thanks for Reading!
CME_MINI:NQ1!Long
by Trading-Economist
6
Sol-nited we stand, Sol-vided we bounce Solana has been undergoing a phase of profit taking causing price to retreat toward this support, after the run up this year. The run so far, for those who bought the absolute bottom at $8, amounts to a 297% gain, over the past 7 months. I am watching to see how this support zone holds up and keeping in mind the cloud is forecasting a steep sell off. Price Action often touches the cloud during a kumo twist. ☁️ 🪢 As always, trade safe!
COINBASE:SOLUSD
by SpektreSignal
ETH The Potential Downfall of EthereumThe recent developments involving a giant whale associated with Vitalik Buterin depositing a significant amount of 2,013 ETH to OKX, combined with Ethereum Co-Founder Vitalik Buterin expressing concerns about the security of over $40 billion worth of staked ETH, present potential reasons for a decline in Ethereum's value. The deposit of such a substantial amount by a prominent figure like Vitalik Buterin's associate raises questions about market dynamics. It could imply a potential sell-off or a lack of confidence in the future performance of Ethereum. Large-scale transactions like these often have a psychological impact on investors and traders, potentially leading to increased selling pressure. The expressed concerns of Vitalik Buterin regarding the vulnerability of over $40 billion worth of staked ETH highlight potential security risks within the Ethereum ecosystem. Such concerns can erode investor confidence and create uncertainty about the overall stability and reliability of the Ethereum network. If investors perceive Ethereum as susceptible to theft or hacking, it may lead to a loss of trust and a subsequent decrease in demand for the cryptocurrency. When a co-founder of a project raises concerns about its security, it can generate negative sentiment among the community and wider market participants. This negative sentiment may result in increased caution or even withdrawals from staking, further impacting Ethereum's price. My Price Target for ETH Ethereum is now $1750, close to the 200 Moving Average on the Daily Timeframe. Looking forward to read your opinion about it.
Short
by TopgOptions
JEF Jefferies Financial Group Options Ahead of EarningsIf you haven`t sold JEF here: Then Analyzing the options chain of JEF Jefferies Financial Group prior to the earnings report this week, I would consider purchasing the $32.5 strike price In the Money Puts with an expiration date of 2023-7-21, for a premium of approximately $1.75. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:JEFShort
by TopgOptions
Binance Coin | A dormant Whale Sold 10,000 BNB tokens !If you haven`t sold BNB at the resistance, here: Then in my opinion Binance Coin (BNB) faces significant challenges that could potentially impact its price negatively. The first factor is the ongoing investigation by the U.S. Securities and Exchange Commission (SEC) into Binance and its CEO Changpeng "CZ" Zhao. Regulatory scrutiny can create uncertainty and potentially lead to a decline in investor confidence, affecting the price of BNB. Furthermore, After remaining inactive for a period of two years, a significant whale recently sold 10,000 BNB tokens at a price of $230, amounting to $2.3 million. What's interesting is that this particular whale was previously involved in the SAFEMOON cryptocurrency and managed to generate a substantial profit of 110,000 BNB tokens, equivalent to $47.5 million at that time, with an initial investment of just 10 BNB tokens, valued at $2,400 back then. Based on the information above, with the SEC investigation and the selling pressure from whales, a price target of $220 is reasonable, in my opinion. Looking forward to read your opinion about it!
Short
by TopgOptions
1
Binance selling BTC Bitcoin to prevent BNB selloff ?!?In my opinion, Bitcoin faces multiple factors that could potentially lead to a decline in its price. Firstly, the presence of a head and shoulders chart pattern is often seen as a bearish indicator, signaling a potential trend reversal. This pattern suggests that Bitcoin's price could experience a downward move. Adding to the bearish sentiment is the speculation surrounding Binance's potential selling of Bitcoin to prevent a selloff in its BNB token. Tweets from popular traders on Twitter, highlighting short-term price correlations between Bitcoin sell-offs and BNB purchases, went viral. The tweets suggested that BNB was being sold off for BUSD to suppress volatility in Bitcoin and that Bitcoin was being swapped out for USDT to suppress downside volatility. The circulation of such tweets, viewed by millions of users, can influence market sentiment and potentially lead to selling pressure on Bitcoin. The notion that BNB purchases are capping the upside potential of Bitcoin raises concerns about the sustainability of Bitcoin's price movements. While Binance CEO Changpeng "CZ" Zhao dispelled rumors of selling Bitcoin to support BNB, the impact of these speculations and Twitter discussions cannot be completely ignored. The uncertainty created by conflicting statements can contribute to market volatility and potentially affect Bitcoin's price. Based on these factors, my bearish outlook for Bitcoin includes a price target of $23,000, which represents a significant decline from current levels. Looking forward to read your opinion about it!
Short
by TopgOptions
Ethereum Whale deposited $738 million worth of ETH on Coinbase !After the first price target was reached today: In my opinion, Ethereum currently exhibits concerning technical patterns and fundamental factors that could potentially lead to a significant decline in its price! The presence of a bearish pennant and a head and shoulders chart pattern suggests a bearish trend reversal may be in play. Adding to the bearish outlook is the news of a prominent Ethereum whale, who owns a substantial amount of ETH worth approximately $738 million, depositing their tokens on Coinbase, possibly with the intention to sell. Such a massive influx of supply into the market has the potential to trigger a significant selloff, leading to downward pressure on Ethereum's price. Considering these factors, I have set a price target of $1140, which represents a substantial decline from the current levels. Looking forward to read your opinion about it!
Short
by TopgOptions
1
BinanceUS suspends U.S. dollar depositsIf you haven`t sold BNB here: Then you should know that BinanceUS, a part of the biggest crypto exchange Binance, has made an announcement regarding changes in its operations. Going forward, the exchange will cease accepting U.S. dollar deposits, and customers will soon no longer have the option to withdraw dollars from the platform. This decision follows a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance, its CEO Changpeng Zhao, and the operator of its U.S. exchange. The SEC alleges various misconduct, including artificially inflating trading volumes, misusing customer funds, failing to enforce restrictions on U.S. customers, and providing misleading information about market surveillance controls. I think BNB will test the $220 support. Looking forward to read your opinion about it.
Short
by TopgOptions
3
Why is APEcoin still in Top 100 Cryptocurrencies?!?!If you haven`t read the APE Coin Growth Thesis: Then you should know that APEcoin's current market cap of $2.3 billion and its position within the top 100 cryptocurrencies seem overinflated and unjustified. The project's reliance on non-fungible tokens (NFTs) raises concerns about its intrinsic value and utility within the broader crypto ecosystem. Unlike other cryptocurrencies that offer tangible benefits, APEcoin's NFTs fail to provide significant value. While NFTs have gained popularity, their long-term sustainability and practical applications remain questionable. APEcoin's NFTs lack a compelling narrative or clear use case that would justify its market capitalization. In contrast to APEcoin, top-ranking cryptocurrencies have solid underlying fundamentals, offering functionalities such as decentralized applications, smart contracts, or efficient cross-border transactions. APEcoin's limited value proposition puts it at a disadvantage in the highly competitive crypto market. Considering these factors, a market correction or revaluation for APEcoin appears likely. A more realistic price target of $1.04 is in line with its current value and potential market demand. Looking forward to read your opinion about it.
Short
by TopgOptions
XMR Potential Ban of anonymous crypto projects !If you haven`t sold XMR here: Then i will remind you that Monero (XMR) has gained popularity for its capacity to enhance user anonymity, making transactions challenging to trace through the utilization of stealth addresses. However, this aligns with a goal that regulators do not necessarily support in the cryptocurrency space. A leaked version of a US draft bill has surfaced, suggesting the elimination of anonymous crypto projects. The proposal also mandates that DAOs, DeFi platforms, and exchanges register legally in the United States. This development indicates a potential shift towards greater regulation and oversight within the industry. My price target for XMR is $96.50. Looking forward to read your opinion about it!
XShort
by TopgOptions
BUD Anheuser-Busch InBev Options Ahead of EarningsIn April, Anheuser-Busch InBev ran a social media campaign for Bud Light beer that featured the transgender influencer Dylan Mulvaney . The company is currently facing the consequences of this promotion, and it is likely that their beer sales will significantly decline in the current quarter. Now analyzing the options chain of BUD Anheuser-Busch InBev prior to the earnings report this week, I would consider purchasing the 50usd strike price Puts with an expiration date of 2023-12-15, for a premium of approximately $1.30. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. I am interested to hear your thoughts on this strategy.
NYSE:BUDShort
by TopgOptions
7
SFIX disappointing Q2 earningsThe Head and Shoulders chart pattern is one of the most bearish signs that you can see in chart. That was also the case with PTON: i don`t know how they eventually turn out to corelate with fundamentals and be right. Since it is still a growth stock, Stitch Fix needs to deliver strong momentum. Instead, Stitch Fix projected that net revenue will drop 10% to 7% YoY, ranging $485 - $500Mil below expectations of $560.5 million. Full-year guidance is flat, possibly even a minor descent. In this case, the Market Cap of 1.198B doesn`t justify. We will see an all time low today.
NASDAQ:SFIXShort
by TopgOptions