Breaking: Joe Biden Might Pardon Sam Bankman, Founder of FTXThe crypto world is abuzz with speculation that President Joe Biden could pardon Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX. Bankman-Fried, sentenced to 25 years for fraud and money laundering, remains a polarizing figure. This speculation is fueled by his substantial political donations to the Democratic Party, estimated to total hundreds of millions. These ties have sparked debate about the potential influence on Biden’s discretion to grant a pardon.
Elon Musk’s commentary has added weight to these rumors, suggesting that such a move could distract from the upcoming power transition to Donald Trump, scheduled for January 20, 2025. Despite the speculation, platforms like Polymarket estimate only a 16% probability of a pardon, underscoring the general skepticism among political traders.
FTT’s Resurgence Amid Bankruptcy Developments
While political speculation swirls, FTX Token ( TSX:FTT ) has seen a remarkable 15% surge in value. This comes after FTX announced plans to begin creditor payouts in early 2025 as part of its Chapter 11 bankruptcy process. The court-approved plan will commence on January 3, 2025, with the first tranche of payments targeting "Convenience Classes" claims. The announcement has buoyed investor sentiment, pushing FTT’s price to $3.28 and its market cap to $1.08 billion, with trading volume surging 170%.
Despite this positive step, FTX’s recovery journey remains fraught with legal and financial complexities. The company’s eventual revival hinges on asset liquidation and the resolution of outstanding legal issues, a process likely to take years.
Technical Analysis of TSX:FTT
FTT’s recent price action highlights a bullish reversal pattern, defying the broader crypto market’s bearish trend. Trading at $3.20, FTT has a bullish RSI of 61.77, signaling strong momentum. Key technical levels include:
- Support: Immediate support lies at the 65% Fibonacci retracement level, providing a cushion for potential pullbacks.
- Resistance: The immediate pivot is the one-month high. A break above this level could ignite a bullish rally, targeting higher resistance zones.
FTT’s resilience amid market uncertainty suggests growing investor confidence, potentially driven by the promise of creditor payouts and speculation about the exchange’s future.
Overview
FTX Token’s value proposition has historically been tied to the FTX platform, offering benefits like fee discounts, staking rewards, and leveraged token creation. However, with FTX’s bankruptcy, the token’s utility has diminished. The recent price surge reflects speculative interest rather than intrinsic value, as the token’s future remains uncertain.
FTT Token Overview
- Launch: May 8, 2019
- Utility: Discounts on trading fees, staking rewards, and collateral for leveraged positions
- Current Status: Associated with a defunct platform, under Chapter 11 proceedings
Investor Caution
While the recent rally is promising, investors should approach TSX:FTT with caution. The token’s price movements are heavily influenced by speculative trading and bankruptcy developments. Moreover, the potential for token liquidation to pay creditors poses a significant risk to its value.
Conclusion
The dual narratives surrounding Sam Bankman-Fried’s potential pardon and FTX’s bankruptcy proceedings underscore the complexity of the situation. For TSX:FTT , the path forward is uncertain, balancing speculative optimism against the harsh realities of a defunct platform. Investors should closely monitor legal and market developments to navigate this volatile landscape effectively.
Community ideas
BUY BUY BUY!You shouldn't care about the sell-off today.
CRYPTOCAP:BTC is slipping, and so is CRYPTOCAP:BTC Dominance!
This means money is flowing into altcoins!
But, altseason is not here yet, it's coming.
#VIRTUAL is up 8% and GETTEX:HYPE is on sale!
I'm buying the dip you should too.
JUST HODL and don't panic sale!
Pending order short EURJPYThis is the holiday period with low liquidity, so more caution is essential. I am also being more cautious with an entry, here is what I propose:
Risk - 50% of your normal.
Entry - below the low of Fri candle (& below the resistance at 163.00).
Stop - above the recent high.
Target - above the next support at 155.80
If the stop gets hit before I get an entry, I will cancel the order.
This is not a trade recommendation, merely my own analysis. If you decide to trade this, you should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Lingrid | EURUSD Capitalizing on TREND ContinuationFX:EURUSD has pulled back after a strong move down, testing the resistance and downward trendline around 1.04500. Overall, the price action is clearly bearish, making lower lows. However, it recently formed equal lows at a previous support level, which could indicate that the price might struggle to make new lows at this levels. We may see the price create a triangle pattern just above the support before continuing bearish movement. Given that the weekly candle is bearish, it makes sense to expect the price to continue moving lower below the previous month low at 1.03315. My goal is support zone around 1.03450
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
TRX May Resume Bullish Movement SoonTRX May Resume Bullish Movement Soon
TRX completed a Bullish Harmonic Pattern and we can also see an interesting price reaction near 0.224.
The accumulation during these days looks very good again and the next upward wave should start soon.
The first resistance is expected near 0.265 and the second resistance near 0.2900.
Also, since TRX is discussed several times for price manipulation, this should support our bullish movement.
You can find more details in the chart!
Thank you!
Overlap resistance ahead?Dow Jones (US30) is rising towards the pivot which has been identified as an overlap resistance and could drop to the 1st support which is a pullback support.
Pivot: 43,351.87
1st Support: 41,852.98
1st Resistance: 44,363.95
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish Cypher - SPY spotted a bullish Cypher pattern on SPY’s daily chart, and it looks promising.
Entry: Current Market Price
Stop Loss: 575.50, just under the D-point, to give the trade some breathing room.
Targets: All time high
Ideas and Inputs are welcome.
Thank you for dropping by.
Disclaimer:
This analysis is for educational purposes only and is not financial advice. Trading involves significant risk, and you should only trade with money you can afford to lose. Past performance is not indicative of future results. Always do your own research and consult with a financial advisor before making any trading decisions.
GBPCHF: Intraday Technical OutlookAfter a breakout of a horizontal demand cluster last week, GBPCHF began to gradually recover while forming a symmetrical triangle pattern.
The market showed a clear rejection from the broken area. The next signal for a bearish trend will be a breakout below the support of the triangle pattern, confirmed by a 4-hour candle closing below that level.
This is likely to push the market down to at least the 1.1200 level.
If you have not yet entered a short position, it is recommended to wait patiently for a breakout to occur.
FTMUSDT Analysis: Valuable Demand Zone IdentifiedI believe the blue box in FTMUSDT represents a high-value demand zone . Considering that overall market conditions are not favorable , I’ve opted for a lower entry point that aligns with a more cautious and strategic approach.
This blue box stands out due to its significance from multiple perspectives . I utilized heatmap , cumulative volume delta (CVD) , and volume footprint techniques to pinpoint this area as a precise zone where buyers are likely to show strength.
Key Points:
Market Conditions: Weak, favoring conservative and well-planned entries.
Blue Box: A critical demand zone identified with advanced tools.
Techniques Used: Heatmap, CVD, and volume footprint for accuracy.
If you'd like to learn how I use these techniques to determine accurate demand zones, just DM me!
If you think this analysis helps you, please don't forget to boost and comment on this. These motivate me to share more insights with you!
I keep my charts clean and simple because I believe clarity leads to better decisions.
My approach is built on years of experience and a solid track record. I don’t claim to know it all, but I’m confident in my ability to spot high-probability setups.
If you would like to learn how to use the heatmap, cumulative volume delta and volume footprint techniques that I use below to determine very accurate demand regions, you can send me a private message. I help anyone who wants it completely free of charge.
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I stopped adding to the list because it's kinda tiring to add 5-10 charts in every move but you can check my profile and see that it goes on..
$TSLA is now "Playing Ping Pong" Trade Analysis DarkPoolsOverview
Tesla Inc. (TSLA) is currently trading at $430.60, with significant dark pool activity at $430.75 (DP 1.5M). The stock is in an uptrend, but recent price action shows a pullback from the $492 high, indicating indecision. Tesla is now "playing ping pong" between the 4 EMA and 8 EMA, with price reacting to the $430.75 dark pool level.
Technical Analysis
Key Observations
Ping Pong Action:
The stock is oscillating between the 4 EMA (red) and 8 EMA (yellow), creating a range-bound movement as buyers and sellers fight for control.
The dark pool level at $430.75 is acting as a pivot point, with the price consolidating around this critical level.
Trend Analysis:
Tesla remains above the 21 EMA (blue), which indicates the uptrend is still intact despite the pullback.
A breakdown below the $430.75 dark pool level could signal further bearish momentum.
Dark Pool Activity:
The $430.75 (DP 1.5M) level represents significant institutional interest and is a critical support/resistance zone.
Failure to hold this level would likely lead to a test of lower targets, such as $399.45.
Fibonacci and Targets:
Target 1: $348.74.
Target 2: $306.85.
Target 3: $269.95.
These levels align with Fibonacci retracement zones and long-term support areas.
Trade Plan
Bullish Scenario:
Key Factors:
The price bounces off the 8 EMA or $430.75 dark pool level and reclaims the 4 EMA, signaling a bullish continuation.
Entry:
Long position above $435, confirming a bounce above the 8 EMA.
Profit Targets:
First Target: $450.
Second Target: $492.
Stop Loss:
Close below $430, as it invalidates the bullish setup.
Bearish Scenario:
Key Factors:
The price breaks below the 8 EMA and the $430.75 dark pool level, confirming bearish pressure.
Failure to hold the 21 EMA would accelerate the downtrend.
Entry:
Short position below $429, confirming a breakdown.
Profit Targets:
Target 1: $399.45.
Target 2: $348.74.
Target 3: $306.85.
Stop Loss:
Close above $435, as it invalidates the bearish setup.
Conclusion
Tesla is currently oscillating ("ping pong") between the 4 EMA, 8 EMA, and the $430.75 dark pool level, signaling consolidation with no clear trend direction yet. A break above $435 could lead to a retest of $450, while a breakdown below $430.75 may target $399.45 or lower. This setup offers clear entry points and risk management for both bullish and bearish scenarios.
GBPCHF Will Go Lower From Resistance! Sell!
Please, check our technical outlook for GBPCHF.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 1.128.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.122 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
SOLANA Bull Flag (UPDATE)The solana token move-UP has begun , I published a previous idea where I spotted the bull flag earlier, while building up.
Previous idea here below, if you missed it.
A near resistance level has just been broken to confirm that CRYPTOCAP:SOL is ready to push up on a parabolic run, despite bitcoin dumping. I am holding from GP price level. My hopeful target is $300 - $500 .
CRYPTOCAP:SOL is expected to go back to previous high price. More update to follow as we go along
Merry Christmas TRADENATION:SOLANA 🎄🎅
Comment if you agree. Like if you disagree
AUDCAD - Look for a short !!Hello traders!
‼️ This is my perspective on AUDCAD.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. I expect price to continue the retracement to fulfill the imbalance and then to reject from bearish OB.
Like, comment and subscribe to be in touch with my content!
USOIL TECHNICAL ANAYLSIS FIRST UPDATE ( MUST READ MY CAPTION )Hello traders check first anaylsis on usoil, so what do think about my anaylsis?
we have confirm target in sell, just keep eye usoil wll fall soon, there is probalitiy of sell as we share in chart
keypoints
current price 69.38
tp 1 69.00
tp 2 68.70
tp 3 68.40
target area 68.00
for more updates follow and boost my post and comment your ideas and stay with us
EURUSD H1 I Bearish ReversalBased on the H1 chart analysis, we can see that the price is rising toward our sell entry at 1.0421, which is a pullback resistance that aligns with the 61.8% Fibo retracement.
Our take profit will be at 1.0373, which is a pullback support level.
The stop loss will be placed at 1.0479, a pullback resistance.
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Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (fxcm.com/uk):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at fxcm.com/au
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Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
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