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BTC WEEKEND PLAN! A QUICK UPDATE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. Currently, BTC is trading around the $26.8k level. It is forming a descending channel in 1hr time frame. If we look at the higher time frame then it breaks below the important support of $26.8k which is a bearish sign for me. Now, the next important support area is around $24k- FWB:25K Now, if we look at the lower time frame then there is a possibility that we see a quick bounce on Sunday to trap more retailers and dump again next week. Observe the chart carefully to know more. Invalidation:- If we got a weekly close above $27.2k If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
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by CoreCrypto1
2
TRX Tron Potential Death Spiral similar to Terra LUNAHistory repeats itself for those who haven't learned from it. SEC Charges Crypto Entrepreneur Justin Sun and his Companies for Fraud and Other Securities Law Violations. Eight celebrities also charged for illegal touting of Sun’s crypto asset securities. But let`s say the market doesn`t care about he Securities and Exchange Commission lawsuit, like we can see reflected in TRX price right now, but... The reason for the potential collapse of TRX Tron is their stablecoin, USDD. According to their website, USDD is secured by the over-collateralization of multiple mainstream digital assets (e.g. TRX , BTC , and USDT). The total value of collateralized assets is significantly higher than that of USDD in circulation with the collateral ratio set at 120%. This is the USDD collateral: TRX 10,929,535,279 BTC 14,040.6 = about $313Mil USDT 29,964,253 USDC 39,719,839 so besides TRX , the total amount of other collateral is $383Mil for a stablecoin that has a mk cap of $724Mil. Now let`s say TRX drops to the Covid level of $0.0072, which is not unrealistic in my opinion. Then the TRX collateral of 10,929,535,279 coin will be worth $78,692,654. Assuming that BTC won`t go lower, then still the liquid collateral of USDD will be around $462Mil for a mk cap now of $724Mil, which will result in a huge depegging od the "stablecoin". Looking forward to read your opinion about it.
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by TopgOptions
2
WTI - GAP CORRECTIONThe Biden administration said the surprise oil output cuts announced on Sunday by Saudi Arabia and other OPEC+ countries were not advisable. The west is not excited by the price development and we can expect an answer to keep the black gold in a reasonable range. Mid-70s is working well to reduce inflation and keep the economy running, that's why a logical move is to boost production supply as a corrective measure. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
NYMEX:CL1!Short
by legacyFXofficial
1
🔥 Bitcoin Dumping On Silvergate Contagion FearsYesterday, the share price of Silvergate, a cryptocurrency-focused US bank, dropped by nearly 50% in early trading after it delayed publication of its annual report and announced a fresh sale of assets to repay debts, while warning that it was assessing its ability to continue as a going concern. The delay and warning were prompted by its exposure to the collapse of crypto exchange FTX, which it said could hit its profitability, and the possibility of further regulatory scrutiny and legal action. Major partners, including crypto exchange Coinbase, have dropped Silvergate in response. Source: www.theguardian.com Naturally, this is bad news for crypto. A lot of fears about FTX and contagion have been re-awoken and investors decided to dump their tokens. In my view, Bitcoin looks bearish in the short- to medium-term. In my previous rising wedge analysis I mentioned that a bearish break out could lead us to $21,500, but now I think we can even go lower because this is not a "technical" dump, but a news-related one. Once word gets out that big crypto players got hurt by Silvergate, we might see more (forced) selling ahead.
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by FieryTrading
11