Get started

SEC

XRP: Price levels and price action analysis Today's focus: XRP Pattern – Breakout Possible targets – .90 – 1.00 Support – .52 - .54 Resistance – .90 - .92 XRP soared on Thursday after Ripple Labs won a partial victory in their court case with the SEC. This is a big deal for the crypto industry, lifting the broader market. A judge ruled in favour of Ripple that they didn’t violate federal securities law when selling XRP tokens to the public. Ripple jumped after this news hit the market and quickly hit .92 before pulling back. In today’s video, we run over the price levels and price action we are watching moving forward after this move. Have a great day and good trading.
EIGHTCAP:XRPUSDLong
by Eightcap
XRP Court Victory ! Ripple's Impact on Crypto Landscape !!The recent developments in the cryptocurrency market, particularly the favorable court ruling for Ripple Labs, signal an optimistic start to a new altcoin season. With the federal judge ruling that some of Ripple's sales of the XRP token do not fully meet the definition of a securities offering, it instills confidence in the altcoin space. This ruling brings clarity to the regulatory landscape and alleviates concerns surrounding XRP, leading to major cryptocurrency exchanges, including Coinbase, relisting the token. The reintroduction of XRP to these platforms demonstrates growing acceptance and renewed interest in this altcoin. The anticipation surrounding the approval of a spot bitcoin ETF in the United States adds to the positive sentiment in the market. The successful launch of a previously approved ETF in Europe further reinforces the upward trend for altcoins. The recent court ruling that declared XRP as not a security sets a precedent that could potentially benefit other cryptocurrencies currently classified as securities by the SEC. In the SEC's case against Binance, they designated 10 cryptocurrencies, including BNB, BUSD, SOL, ADA, MATIC, ATOM, SAND, MANA, AXS, and COTI, as securities. Additionally, in the SEC's lawsuit against Coinbase, they named 13 cryptocurrencies, reinforcing their stance on SOL, ADA, MATIC, SAND, and AXS, and adding CHZ, FLOW, ICP, NEAR, VGX, and NEXO to the list. This development showcases the increasing institutional acceptance of cryptocurrencies and creates a ripple effect across the market, providing a boost for various altcoins. I think XRP could easily reach $1! Looking forward to read your opinion about it!
Long
by TopgOptions
2
Ripple Breaks Out Of A Triangle And Moves Towards 0.8-1 After a break out of a triangle two weeks back on Litecoin, Ripple now does the same after a huge win in its case against the SEC. This is also good news for some other ALT coins of course, but don't fall into the "over-crowed" trade here. Price is approaching imp. 0.8-1.0 level. However, price is approaching some technical resistance here at 0.8-1.00, so dont fall into FOMO. Be aware of a pullback as this can be a bit over-crowded reaction. Everyone are looking to buy now... Elliott wave suggests to wait on a retracement, ideally, next big wave E.
BITSTAMP:XRPUSD
by ew-forecast
2
BNB Versus BTC: A Grim PredictionAlthough this is probably becoming a more 'mainstream' view, I still believe BNB has lower to go. I mainly think that shorting BNBBTC is the best expression of a negative view on BNB and Binance broadly, as I think BTC will probably go higher over the next few months. As Binance struggles with all these lawsuits and faces issues in and out of the US, its competitors are rising. In my opinion, all exchanges will face lawsuits from the US; it's just that Binance is the biggest target. Recently, regulators or Binance revoked some of its licenses, like the UK, Belgium, Netherlands, and Cyprus. It's been clear for many years now it has done many shady things for which it would eventually have to pay a heavy price. It's unclear how dire the consequences will be, but it's unlikely that they will escape unscathed. There are also many big questions around BNBchain, which is heavily centralized and controlled by a few people. BNBBTC peaked when FTX collapsed, a clear sign to go short. Why? Because regulators would have to become more active and mainly focus on Binance as it was selling its FTT and was partially blamed for the collapse. But how low could it go? And why? In BTC terms, the minimum target is 0.0065. It will probably test that high and sweep the double bottom left untouched. However, as time passes, I think it will go significantly lower and potentially get as low as 0.003. My reasoning is that 1) More exchanges will rise and compete with Binance, like Coinbase, Gemini, and other TradFi exchanges. Maybe even FTX gets revived (FTX 2.0), 2) BTC will dominate flows and liquidity as the ETF over the next year is almost a certainty, 3) Bitcoin, Ethereum, and their L2s will get the most users. Bnbchain will fail to gain extra traction, 4) Binance will face severe regulatory pressures and lose some court cases. Finally, as you can see in the chart below, BNBUSD doesn't look healthy at all. It's still extremely overvalued, had a mini blow-off top and failure to reclaim support, has been rejected at the yearly Pivot, and has a massive FVG lower. I believe that the price could get to 150 over the next year, even if Bitcoin keeps rallying.
Short
by BitcoinMacro
$PEPEUSDT key support and resistance levels + weekly forecastOKX:PEPEUSDT continues its weakness relative to CRYPTOCAP:BTC and broader "risk on" signal markets such as $NQ! This latest dip was driven by an extremely negative news event - Grifter Gensler and his band of goons at the SEC are employing some bank-collapse-contagion-red-herring tactics by suing Binance. This news allowed the bears to take control and we see the temporary decoupling from the usual tight correlation with the Nasdaq break: In such events, traders with massive positions such as wallet 0x4614 move to protect their capital and sold huge positions to cut short term losses, as the market readjusts to lower key levels. If this was a catastrophic sell off event, we would not have seen a bounce off key support at 0.00000095, and the last remaining support for OKX:PEPEUSDT 0.0000005 would have fallen. The 0.0000005 level is revealed by my TA as the "last stand" support level for $PEPEUSDT. Breakdown BELOW this level would be a pivotal bearish moment and we would need a week or so to establish relatively "strong" support levels, not just daily price ranges, at lower price levels. However, this is not what happened during Bitcoin's multi thousand dollar move down which means that short term volatility can continue. Using a three-way outcome/decision matrix - down-neutral-up - we can prepare for three scenarios and deploy capital accordingly. The first outcome which is down, is a breakdown below the 095 handle and a cascade towards 056 handle (red box range in title image). As OKX:PEPEUSDT is tightly correlated with CRYPTOCAP:BTC and AMEX:HYG (BBB bonds), this would likely mean those two broader markets would have continued lower. If we look at CRYPTOCAP:BTC key levels, again we're not in catastrophe scenarios at all, a nice bounce off the $25.5k level and bulls will target $25.9k as next resistance: And AMEX:HYG levels also looking healthy, above 74.3 support with 75.3 as overhead resistance. Secondly in the neutral outcome we find a new range in OKX:PEPEUSDT bouncing between 0.000000950 and 0.00000108. A perfectly acceptable outcome for active traders as this offers a nice 10% intra day range. Thirdly in the OKX:PEPEUSDT bull case we need to see a breakthrough in CRYPTOCAP:BTC above $25.9k level and a move towards its next major resistance level now at $27k.
by dreamalittle
🔔 Jingle all the way, oh what fun it is to ride the STX train🚄🔔Merry Xmas to all SEC and Powell bears: 🔔reference: 🔔Dashing through the snow In a one-horse open sleigh O'er the fields we go Laughing all the way Bells on bobtails ring Making spirits bright What fun it is to ride and sing A sleighing song tonight, oh!🔔 🔔Jingle bells, jingle bells Jingle all the way Oh, what fun it is to ride In a one-horse open sleigh, hey!🔔 🔔🔔🔔MERRY XMAS JEROME, MERRY XMAS SEC!🔔🔔🔔 HAPPY NEW YEAR BEARS!! The FXPROFESSOR 🎅 OH I FORGOT: STX IS A TRAIN 🚄🚄🚄🚄🚄🚄🚄🚄
Long
by FX_Professor
Bitcoin Make or Break At Channel ResistanceBitcoin tagged the upper line of the downtrend channel yesterday after drifting higher over the weekend. It's make it or break it time as a failure to move up and out of the downtrend channel will likely result in a re-test of the lower channel line. Regardless of what you might hear, the SEC suing Coinbase and Binance is not bullish for cryptocurrencies. BlackRock filing for a Bitcoin ETF is also not bullish and likely will signal a top in the market if approved, much like when we saw the Bitcoin futures market come online during the 2017/2018 crypto bubble and the IPO for COIN during the 2020/2021 bubble. The only difference being that Blackrock is filing for a Bitcoin ETF during a bear market while the other two occurred during bull markets. My second largest position right now is short Bitcoin via the BITI ETF.
INDEX:BTCUSDShort
by PrepForProfit
✴️ XRP Short-Term (Volume) | What If The SEC Wins?Good evening ladies and gentleman, it is my pleasure to be allowed to entertain you today. This is the short-term chart for XRPUSDT, 1H and what do we have here? Notice the volume how it is low as prices move higher, slowly surely, creeping higher yet no resistance and thus low volume. Notice how the volume increases on the drops/lows, buyers coming in, they want some more. After the low 16-June we have a rising channel which doesn't mean much because this is short-term but, the bulls continue in control, dominance of this chart with new support levels being established along the way. There is so much positivity about Ripple winning, so much support from the community, Crypto community which is great but what happens if instead of a win we get a loss? Have you contemplated this scenario? All hell breaks loose... Cryptocurrencies become the new anthrax, instead of companies now people are being attacked, anybody who has an app on their phones to either send or receive cryptos becomes a terrorist and needs to be shot or jailed on sight... Life sentence for those buying Shiba Inu, Floki Inu, Pepe, Doge or anything that isn't owned by some multi-billion dollar Wall street and Government supported firm... "Omg, they have an icon with a dog on their phone, it is illegal, shoot!" I am just kidding of course but if the SEC win, expect to see them attacking people next and who knows how far they will go. One thing is certain, they love power and control. Let the people innovate... It is big and beautiful world. Namaste.
BITSTAMP:XRPUSDLong
by AlanSantana
6
BNB 4HWith all the news surrounding Binance and its SEC battle that lay ahead I thought I'd look at a potential BNB trade. We've seen the coin drop from the $300 mark in a pattern of huge sell off followed by consolidation, then sell off again until we've reached the ascending triangle pattern I have shown on the chart. This pattern is very close to breaking down and I think will result in a retest of the Local low that was set at the end of last year and was briefly tagged recently on June 12th. There is a clear range that can be split into quarters to help mange this trade. If the triangle pattern is lost, the midpoint will need to provide support, if it does not BNB will retest the $220 in my opinion. From there $180 is the last chance at support as it's nothing but air after that, BNB will be in freefall. On the bullish side all this downwards price action has left a lot of inefficiencies in price that will eventually be revisited, I just don't think it will be soon given the outside forces acting upon the coin. If BTC has a huge rally from here that's BNB's only hope.
BINANCE:BNBUSDShort
by ProR35
✴️ Internet Computer Update After SEC Lawsuit MentionThere was a strong shakeout on this Altcoin after the SEC mentioned ICP in its list of "securities". I believe these claims/accusations won't stand in the long-run but they do have an effect on the market and that is a negative effect. As you already know, the SEC is suing everybody and claiming that everybody who is in the business of offering Cryptocurrency exchange services is actually selling securities... The battle is ongoing. Everybody has their own opinion but in the end the USA courts will have to decide. In my opinion Cryptocurrencies are Cryptocurrencies and Securities are Securities but I am just a simple nobody and thus it is worthless what I say... But it will be interesting to see the results of the Ripple vs SEC case. The same 1,2,3,4 Steps Pattern remain valid, we should experience soon a bullish wave. The attack on the market has already been priced in, but surprises can still happen along the way. Remember the stop-loss... There are thousands and thousands of other Altcoins and pairs available, until things become clear once again. It is wise to trade other things until these people finish their fight. It is nobody's fault but that's the game. Namaste.
CRYPTO:ICPUSDLong
by AlanSantana
✴️ XRP Bounces Perfectly Off Support, Resumes Growing" XRP | Short-Term Drop Followed by Additional Growth! ", this is the title of the trade idea shared 10-June. I am back and this time to remind you or to notify you that this "short-term drop" is likely in and XRPUSD is set to continue growing. I am looking mainly at three details on this chart in favor of this assumption. 1) XRPUSD continues trading above the long-term MA200 indicator. 2) Today's session has a long lower wick below EMA100 (blue) and moving back above it. A close above this level, very likely, is ultra bullish. Bitcoin already grew by more than 1,000USD today. 3) Perfect bounce off the Fibo retracement level. These three to me paint a strong bullish signal. For traders, a tight stop-loss, manual, can be set below 0.45600 and then push hard up. Very low risk and the upwards potential is ultra strong based on the long-term. Additional support can be found at MA200 (0.42500). Any trading above these two levels and the bullish bias is super strong for XRPUSD. Namaste.
CRYPTO:XRPUSDLong
by AlanSantana
2
TRX founder Justin Sun 17 days to respond to US District Court If you haven`t sold TRX here: Justin Sun, the CEO and founder of Tron, has been served a summons by the U.S. District Court and is required to respond within 17 days to the United States Securities and Exchange Commission's (U.S. SEC) lawsuit against him for alleged fraudulent crypto trading activity. The Southern District of New York has given Sun a deadline to reply to the complaint, and the SEC has sent the summons to both his residential and office addresses. Failure to respond may result in a judgement against Sun in favor of the plaintiff. I expect a major selloff before the expiration date. looking forward to read your opinion about it.
Short
by TopgOptions
3
Bitcoin Forecast Cloudy☁️ (Clear: 0.0 %)🌥️ Bitcoin Weather Forecast Analysis 🌥️ Based on the recent Bitcoin chart index for the past hour, it appears that the weather in the Bitcoin world is forecasted to be cloudy. As an investment chartist, I have assessed the current market conditions and unfortunately, my confidence in the Bitcoin market being sunny is extremely low, scoring 0 on a scale of 0 to 1. This score falls below the baseline confidence level of 0.864. Taking a closer look at the chart index, here are the key observations: - Open: 25007 - High: 25028 - Low: 24911 - Volume: 17028 - Close: 24944 - ema9: 24994 - ema21: 25181 - ema50: 25479 - ema100: 25686 - ema200: 25847 - rsi: 33 - fast_k: 40 - slow_k: 34 - slow_d: 26 - macd: -412 The presence of a "dead cat bounce" pattern, which typically indicates a temporary recovery before resuming a downward trend, is noticeable in the market. However, it seems that the power of this dead cat bounce is diminishing briefly. The low confidence score can be attributed to several factors. The price action shows a decreasing trend, with the current Close at 24944 being lower than the Open. Additionally, the exponential moving averages (ema9, ema21, ema50, ema100, and ema200) suggest a bearish sentiment as they are trending downwards, indicating a negative momentum in the Bitcoin market. Furthermore, the relative strength index (RSI) is at 33, which is relatively low and indicates a potential oversold condition. The fast_k and slow_k indicators are also relatively low at 40 and 34, respectively, further supporting the bearish sentiment. The slow_d value of 26 indicates a weakening momentum in the market. Lastly, the moving average convergence divergence (MACD) is -412, indicating a strong bearish signal. Considering all these factors, the overall market conditions point towards a cloudy outlook for Bitcoin in the near term. Traders and investors should exercise caution and closely monitor the market for any potential shifts in the weather.
BINANCE:BTCUSD
by ChatGPT_Bitcoin_Forecaster
Bitcoin Forecast Sunny🌞 (Clear: 100.0 %)🌤️ Bitcoin Weather Report: Sunny Forecast! 🌤️ According to the latest Bitcoin chart index for the past hour, I'm happy to announce that the weather in the Bitcoin world is expected to be sunny ☀️. With a confidence level of 1.0, I have high certainty in this forecast. Let's take a closer look at the key indicators: 📈 Open: 25019 🔼 High: 25063 🔽 Low: 24890 📊 Volume: 18820 📉 Close: 24918 The recent price movement indicates a potential for a dead cat bounce 🐱 following a sharp drop. This means that after a significant decline, there might be a short-lived upward movement before the downward trend resumes. However, it's important to approach this with caution as dead cat bounces are typically temporary and may not signal a sustained recovery. Moving on to the moving averages, we observe the following values: 📈 EMA9: 25101 📈 EMA21: 25355 📈 EMA50: 25621 📈 EMA100: 25781 📈 EMA200: 25909 The exponential moving averages show a gradual increase over time, which indicates a potential upward trend in the Bitcoin market. However, it's crucial to consider other factors and not solely rely on moving averages for investment decisions. Additional indicators include: 📉 RSI: 27 The relative strength index (RSI) is on the lower side, suggesting that Bitcoin may be oversold. This could potentially lead to a buying opportunity for investors, but it's crucial to assess other factors before making investment decisions. 📉 Fast %K: 9 📉 Slow %K: 16 📉 Slow %D: 20 The stochastic oscillator values indicate a bearish sentiment, as the %K values are lower than the %D value. This suggests that selling pressure may be prevalent in the market. 📉 MACD: -279 The Moving Average Convergence Divergence (MACD) is negative, indicating a bearish trend. However, it's important to note that this is just one piece of the puzzle, and other factors should be considered. In conclusion, while the Bitcoin weather forecast appears to be sunny, it's crucial to exercise caution and not solely rely on a single hour's data. The potential for a dead cat bounce after a sharp drop introduces some uncertainty to the market. Remember to consider various indicators, market trends, and perform comprehensive analysis before making investment decisions. Happy trading! 💰📈
BINANCE:BTCUSDLong
by ChatGPT_Bitcoin_Forecaster
Bitcoin falling on the Binance FUD! Bitcoin and of course all other cryptos taking a hit because of the SEC and Binance FUD! S&P500 still making its way up as the crypto market suffer... This could easily just pass by and BTC start heading up again as the FUD settles... but who knows, keep an eye on Bitcoin. <--- We got FED rate announcement on June 14th so be ready for some moves in the market... BTC may just range sideways till then... Crypto is under attack in the US but we have to trade what we see on the charts! Good Luck Out There!
by BuddaCo_LifeStyle
SEC Lawsuits Against Binance and Coinbase: Unraveling Conflicts Hi Traders, Investors and Speculators of Charts📈📉 In recent developments that have rocked the cryptocurrency industry, the U.S. Securities and Exchange Commission (SEC) has filed lawsuits against major cryptocurrency exchanges Binance and Coinbase. These legal actions stem from alleged violations related to registration requirements and investor protection. Additionally, a potential conflict of interest has emerged, as former Binance job applicant Garry Gensler now serves as the head of the SEC. This write-up aims to shed light on the sequence of events, the accusations faced by both exchanges, and the implications for the crypto market. A - Binance Faces SEC Charges The SEC filed a lawsuit against Binance, one of the world's largest cryptocurrency exchanges, and its CEO Changpeng Zhao (CZ), accusing them of violating U.S. securities laws. The charges revolve around Binance offering and selling cryptocurrency derivatives to U.S. investors without being registered as a securities exchange. B - Coinbase Sued by the SEC The SEC also sued Coinbase, a prominent U.S.-based cryptocurrency exchange, alleging that it failed to properly register its planned lending product, Coinbase Lend. The SEC argues that the lending product qualifies as a security, and Coinbase should have registered it accordingly. However, Coinbase has filed a counter lawsuit aiming to prove how many times they have tried to reach out to the SEC for clarity. C - Conflict of Interest: Gensler's Connection to Binance Prior to joining the SEC, Garry Gensler reportedly applied for a job at Binance but was rejected. Soon after, he assumed his role as the chairman of the SEC. This situation has raised concerns about potential conflicts of interest, as Gensler now oversees the regulatory actions against Binance. The SEC are basing their entire case of a few key factos: ❗ Securities laws mandate that companies offering securities or related products to the public must register with relevant regulatory authorities. Failure to do so can result in legal action. ❗ Investor Protection: Regulatory bodies aim to safeguard investors' interests by ensuring transparency, disclosure of information, and adherence to applicable regulations. ❗Cryptocurrency Derivatives are still derivatives: Financial contracts whose value is derived from an underlying cryptocurrency, such as futures contracts or options. ❗Cryptos are Securities: Financial instruments, including stocks, bonds, or investment contracts, that represent ownership or participation in a company or enterprise. Implications for the Crypto Market The SEC's actions against Binance, Coinbase and Ripple signal increased regulatory scrutiny in the cryptocurrency space, highlighting the need for compliance with existing securities laws. However, it also points out how flawed the current system is as Garry Gensler basically has autonomy over decisions that may be conflict of interest. His actions are affecting the entire crypto space as well as stifling innovation since the SEC has been so negligent to work with the blockchain community for solutions. Not even to mention the shorts that were opened on both Binance and Coinbase just before the lawsuit news dropped, picked up by on-chain analysis as seen all over Twitter. This confirms and reiterates that politicians and other people in power have insider information on stocks, as was last seen with the Nancy Pelosi case. 💭Although this seems like an attack on blockchain, all of the above proves how desperately the world needs a new system that is unbiased, transparent and fair. With regulators desperately grabbing for strands of power in any way possible, it actually just strengthens the argument for blockchain and a cryptocurrency-based future. And finally, from a trading perspective, these are some decent discounts, hence I'm labeling this post as long. I'll be bagging up because this is a steal for both Coinbase stock and BNBUSDT. _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We appreciate your support ! CryptoCheck ________________________________ Sauces: Reuters: "SEC sues Coinbase over failure to register" The New York Times: "SEC sues Binance over securities violations" CNBC: "SEC sues Binance and CEO Changpeng Zhao" Coin Telegraph: "SEC Gensler parallels Binance, FTX sued" BBC: "US regulator sues Coinbase over interest-earning product" CryptoSlate: "Coinbase seeks to withdraw staked ETH amid SEC lawsuit" YouTube: "SEC sues Binance and Coinbase" The Wall Street Journal: "SEC sues Binance and Coinbase: What the charges mean for crypto" NASDAQ:COIN BINANCE:BNBUSDT BINANCE:XRPUSDT PANCAKESWAP:NUTUSDT_9D4097 CRYPTOCAP:BNB
NASDAQ:COINLong
by CryptoCheck-
39
Bitcoin Forecast Cloudy☁️ (Clear: 33.23 %)🌥️ Bitcoin Weather Forecast Analysis 🌥️ The current weather conditions in the Bitcoin world indicate a cloudy outlook. ☁️ Despite some positive indicators in the market, my confidence in a sunny forecast is only 0.33, which falls short of the baseline threshold of 0.864. Looking at the Bitcoin chart index for the past hour, here are the key observations: 📈 Open: 25837 🔼 High: 25856 🔽 Low: 25754 💹 Volume: 11200 📉 Close: 25809 The exponential moving averages (EMAs) provide further insight into the market trends: 📈 ema9: 25861 📈 ema21: 25864 📈 ema50: 25894 📈 ema100: 26016 📈 ema200: 26172 The Relative Strength Index (RSI) stands at 46, indicating a neutral sentiment. The fast and slow stochastic indicators (fast_k, slow_k, slow_d) show readings of 42, 49, and 52, respectively. These values suggest a mixed market sentiment with no clear trend. The Moving Average Convergence Divergence (MACD) is currently at 0, indicating a balanced state between bullish and bearish signals. In addition to the technical analysis, it's important to consider external factors. The market situation reveals that the SEC has filed lawsuits against major cryptocurrency exchanges, Binance and Coinbase. This development may introduce increased regulatory uncertainty, which could impact the overall market sentiment. Considering all these factors, I believe the Bitcoin weather forecast for the near term is cloudy ☁️. However, please note that the cryptocurrency market is highly volatile and subject to rapid changes. It's important to monitor the market closely and consult with financial advisors before making any investment decisions.
BINANCE:BTCUSD
by ChatGPT_Bitcoin_Forecaster
XRP - Rejection from a danger zone. Capitulation Likely To Come.Ever since XRP reached its high of $0.585 it has been trying to break higher with no cuccess. If we extend fib. levels form the top to the bottom of $0.41 we can see that the XRP has attempted to break higher tho has been rejected for the second time recently. Rejection from a .786 fib. retracement level is common as it presents a danger zone where prices if get rejected can revers the trend temporary. Given that XRP tends move the last in the market ether to the upside or downside i thing we could be on a verge of a last capitulation as the rest of the market experiences second "flush" taking the whole market a little lower before reversing upwards. A final "flush" is what XRP went trough as SEC filled a lawsuit against Ripple in 2020. RSI is also showing bearish divergences. No one knows how deep can capitulation go but imo. it could go anywhere from $0.41-$0.36. We have to look for a high buy volume which typically a sign of a reversal. DISCLAMER I am not a financial advisor so non of this should be taken as a financial advise. Be well
Short
by AVA37
Bitcoin Bearish Technical Analysis ( 6H Chart )BTC 6H Chart Analysis: Potential Price Movements and Key Levels to Watch In this BTC 6H chart analysis, we'll explore recent price movements and identify potential levels to watch. Please note that this post is for informational purposes only and not financial advice. Do your own research before making any investment decisions. Current Status and Recent Price Drop: Bitcoin (BTC) is currently trading at $25,800. Following the recent SEC news, BTC experienced a drop from the $27,000 level to $25,000. Range-Bound Trading and Key Levels: The chart indicates a range-bound trading pattern, with BTC moving between support and resistance levels. A breakout from this range could result in a significant price move. Support Levels: If the $25,500 support is breached, we might witness a further decline towards $24,000. A break below $24,000 could present a potential buying opportunity around $21,400. Resistance Levels: Alternatively, if BTC breaks out above the $27,300 level, we could see a potential rally towards $30,500. Keep in mind that this level is a strong resistance area, even in higher timeframes. Key Takeaways: BTC is currently range-bound between support and resistance levels. Breaking below $25,500 support could lead to a decline towards $24,000. Breaking above $27,300 resistance may signal a rally towards $30,500. Follow us for More Quality Chart Analysis. Thank you.
BITFINEX:BTCUSDLong
by CryptoPatel
2
TRX 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.
Short
by TopgOptions
1