BIT BitDAO Price Target after Court approves FTX LiquidationGiven the recent developments in the crypto space, there are several factors that point towards a bearish outlook:
FTX Liquidation of $3.4 Billion in Crypto Assets: The approval by the Delaware Bankruptcy Court for FTX to liquidate $3.4 billion in crypto assets is a significant event. This influx of a substantial amount of cryptocurrency into the market could potentially lead to an oversupply situation. When a large amount of assets is dumped into the market at once, it can put downward pressure on prices.
Limited Sales in the First Week: The imposed limit of $50 million for the first week indicates a controlled release of these assets. This may imply that FTX anticipates potential market disruption if a large volume is sold at once. However, even with controlled release, the market could still experience downward pressure.
Potential for Increased Limits: The provision for increasing the limit with the approval of the creditors’ committee and ad hoc committee, or potentially even up to $200 million weekly with court approval, shows that there's room for further selling pressure in the coming weeks.
Binance US CEO Resignation: The resignation of Binance US President and CEO, Brian Shroder, could potentially signal internal challenges within the exchange. Leadership changes in major crypto exchanges can lead to uncertainty and can impact market sentiment.
Asset List: The assets listed for liquidation include some of the major cryptocurrencies in the market such as Bitcoin, Ethereum, WBTC, WETH, USDT, SOL, XRP, STG, APT, BIT, DOGE, MATIC, FTT, TON and more. If a significant portion of these assets are sold off, it could have a widespread impact on the market.
Market Sentiment and Confidence: These events combined might lead to a loss of confidence in the crypto market, especially if investors perceive them as signs of instability or potential oversupply.
Regulatory Considerations: The fact that a bankruptcy court is involved in this process highlights the regulatory environment surrounding cryptocurrencies. Heightened regulatory scrutiny or intervention can have a dampening effect on the market.
Considering the above, my Price Target for BIT BitDAO is $0.32.
Looking forward to read your opinion about it.
Bitusd
BITUSD Buy signal confirmedBitDAO / BITUSD is having the strongest 1day candle since May 15th right at the bottom of the 5 month Channel Down.
This confirms the excellent pattern bottom buy opportunity, especially after the 1day RSI made a Double Bottom.
Buy and target the 0.5 Fibonacci (like the March bottom rebound) at 0.4545, which will also test the 1day MA50.
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BTC Trading Signal: Target 40000
BTC currently has a relatively clear trend line. If it does not fall below during the backtesting process, you can refer to this trend line for long trading. The resistance is 29800-30200, and the target can be set near the resistance.
If it falls below, short positions will have a better chance to make a profit. The support is 28600-28200. Of course, you can go long near the support. As long as the support is valid, the probability of profit is also very high.
The long-term goal is still at 40,000!
Finally, I want to tell everyone that no matter how many years you have been trading, no matter whether your trading is losing or earning, if you follow me, you will definitely gain more!
Bitdao creating a Huge Head and Shoulders!3Day time frame
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Bitdao takes almost 1year to create a potential inversed head and shoulders.
Trade with the downtrend getting breakout, and targets as marked.
Final target is 1.0350
Fast and risky short for $BITa quick short for bit
Not much to explain
Well, there is, but I don't feel like it.
[2023-02-26] [BYBIT:BITUSD] [SHORT]Hello fellow traders,
Practice good risk management!
Anything can happen.
In order to make money, it is not necessary to know what will happen in the next moment in time.
For any given set of variables that define competitive advantage, there is a random distribution of failures and successes.
Competitive advantage is nothing more than an expression of a higher probability of the course of events developing in a certain way.
Every moment of the market is unique in its own way.
You alone are responsible for your trading – both gains and losses.
Good luck and happy trading!
fidaFida currency has a great growth potential after breaking the downward trend
It can be interesting for Hold
Targets $1 $2 $4.5
BIT - Buying StrategyBYBIT:BITUSDT.P
4H time frame
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According to Elliot impulse wave, BIT is on the path of 5th wave.
Take entry from 0.47~0.48
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TP: 0.61
SL can be triggered if uptrend is broken.
BitDAO: Double Bottom Bullish Dragon at the 3.618 Fib ExtensionWe have some RSI Bullish Divergence and a Double Bottom at the 3.618 Fibonacci Extension and are currently Breaking out of a Bullish Dragon Trendline and will later be looking to Challenge the Validation Line of a Bump and Run Reversal Bottom.
[2022-10-01] [BYBIT:BITUSD] [SHORT]Hello fellow traders,
Practice good risk management!
Anything can happen.
In order to make money, it is not necessary to know what will happen in the next moment in time.
For any given set of variables that define competitive advantage, there is a random distribution of failures and successes.
Competitive advantage is nothing more than an expression of a higher probability of the course of events developing in a certain way.
Every moment of the market is unique in its own way.
You alone are responsible for your trading – both gains and losses.
Good luck and happy trading!
[2022-10-01] [BYBIT:BITUSD] [LONG]Hello fellow traders,
Practice good risk management!
Anything can happen.
In order to make money, it is not necessary to know what will happen in the next moment in time.
For any given set of variables that define competitive advantage, there is a random distribution of failures and successes.
Competitive advantage is nothing more than an expression of a higher probability of the course of events developing in a certain way.
Every moment of the market is unique in its own way.
You alone are responsible for your trading – both gains and losses.
Good luck and happy trading!
[2022-9-15] [BYBIT:BITUSD] OverviewHello fellow traders,
The levels I am interested in taking a trade from are marked with arrows.
Practice good risk management!
Anything can happen.
In order to make money, it is not necessary to know what will happen in the next moment in time.
For any given set of variables that define competitive advantage, there is a random distribution of
failures and successes.
Competitive advantage is nothing more than an expression of a higher probability of the course of events developing in a certain way.
Every moment of the market is unique in its own way.
You alone are responsible for your trading – both gains and losses.
[2022-9-15] [BYBIT:BITUSD] [LONG]Hello fellow traders,
Practice good risk management!
Anything can happen.
In order to make money, it is not necessary to know what will happen in the next moment in time.
For any given set of variables that define competitive advantage, there is a random distribution of
failures and successes.
Competitive advantage is nothing more than an expression of a higher probability of the course of events developing in a certain way.
Every moment of the market is unique in its own way.
You alone are responsible for your trading – both gains and losses.
Good luck and happy trading!
[2022-9-4] [BYBIT:BITUSD] [SHORT]Hello fellow traders,
Practice good risk management!
Anything can happen.
In order to make money, it is not necessary to know what will happen in the next moment in time.
For any given set of variables that define competitive advantage, there is a random distribution of failures and successes.
Competitive advantage is nothing more than an expression of a higher probability of the course of events developing in a certain way.
Every moment of the market is unique in its own way.
You alone are responsible for your trading – both gains and losses.
Good luck and happy trading!
[BYBIT:BITUSD] [Day Trade] 2022-8-29Hello fellow traders,
Practice good risk management!
Anything can happen.
In order to make money, it is not necessary to know what will happen in the next moment in time.
For any given set of variables that define competitive advantage, there is a random distribution of failures and successes.
Competitive advantage is nothing more than an expression of a higher probability of the course of events developing in a certain way.
Every moment of the market is unique in its own way.
You alone are responsible for your trading – both gains and losses.
Good luck and happy trading!
Morning Update: Are We Targeting a September/October Bottom? Bitcoin, like the Ethereum chart is carving out its final squiggles of its wave 1 down. Like so many other charts I would like to see OML (one more low) before a retrace takes place. The 1 and 2 on the chart pointing down if price fills in those ideally points to $15,000.
I have no reason to think we will extend beyond that point as of now. Right now, I want to see if I get OML and then a nice retrace.
Best to all,
Chris
PS: I’ll be on vacation from 9/1-9/15 and will not be posting during that timeframe. I may be able to respond to DM’s.
[BYBIT:BITUSD] [Day Trade] Correction after massive dumpHello fellow traders,
Take a profit when the trade has been completed for 50% and move your stop-loss to entry.
Good luck and happy trading!
Kind regards,
n1d0
Bitcoin trend is ready for a correction of 30 to 35% towardsBitcoin trend is ready for a correction of 30 to 35% towards $15,000 to 14,000% within 70 to 80 days and then the correction process will end for a period of 3 years.
Bitcoin UP?Targeting Bitcoin using Andrew Pitchfork and Fibonacci Extension. Price will go up if make new higher high.
BIT - Great buying timing here!BYBIT:BITUSDT
4H trend chart
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BIT is breaking out the long-term downtrend line, also overcoming the neckline of double bottom.
So we can buy it here with trading strategy as below.
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Profit Targets:
a) 1.262~1.280-----Fib(1.272~1.382)
b) 1307-----Fib(1.618)
c) 1.350-----Fib(2)
Stop losses:
a) 1.153-----Red horizontal ray
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If you like this analysis, smash the "like button" and leave a comment below to share your thoughts
or let me know what crypto you want to see!
Trading is a reflection of yourself. Learn more daily and be ready for every opportunity.
Have a nice trading!
BITCOIN sideway UPBITCOIN does a sideway UP . It's a good storage period, but be careful, there will be smashing and shocking. But the direction still depends. Expect to do this for about 1 year. Maybe it won't increase the intensity. but will gradually increase
$BIT #BITUSD Another incoming leg down.Bit seems like wants to repeat the pattern which it did last 3 times , with breaking the raising support line.
On Average after we break this key area , we got a 25-30% move to the downside.
From moving average perspective BIT was rejected by EMA 55 once again.
On the daily RSI we can see that Hidden Bearish Diverge is forming once again.
On the daily MACD we can see a crossover to the downside will occur as soon as today.
I can offer very little hopium as it will be if we reclaim the 1.40$ thus making a new higher high.
Interested to see your toughs and opinions in the comment section, thanks.
Bitcoin BTCUSD Bullish Possibility on Daily SupportTechnical :
1. Bitcoin is at its Daily Support Level.
2. Fibonacci retracement is showing upside potential.
3. Wicks can touch the orange line.
4. Target = 43000
Fundamental :
Due to restrictions on Russia. Rich people in Russia can convert Russian Ruble into Bitcoin to protect their wealth. Bitcoin could play an important role as a safe haven asset or in circumventing sanctions for Russia. In near future Bitcoin price can go higher too.
