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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
Massive 4H short for the almighty BitcoinLadies and gentlemen, we have a clear as day Bearish reversal signal in front of our very eyes. Bitcoin has confirmed a double top pattern for the right shoulder of a massive head and shoulders. I'm looking forward to shorting the re-test pf a pivotal neckline. I'm projecting a decline of at least 3,000 pips over the course of the entire move. Price is looking to continue creating its daily Lower Low as well as a breakout from consolidation. This pattern can be seen clearly from the daily as well as clear structure breaks on the 4 hour timeframe. I will be analyzing the 4H for the setup however my entries usually come from the 15/30 min. sometimes the Hourly. However I anticipate a strong volatile swing bullish before the decline.
COINBASE:BTCUSDShort
by DesharedPierreJr.
SQ Block Options Ahead of EarningsIf you haven`t sold SQ Block here: Then I think you already know that the company is accused of fraud! Now analyzing the options chain of SQ Block prior to the earnings report this week, I would consider purchasing the 59usd strike price Puts with an expiration date of 2023-5-19, for a premium of approximately $2.71. 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:XYZShort
by TopgOptions
XRP Price Targets after the FOMC meeting this weekThe upcoming FED meeting on May 3rd could cause a further decline in the crypto market due to the potential rate hike and ongoing unease around banking system developments. The outlook for the crypto market after the upcoming FED meeting on May 3rd is bleak. Fears of a deep credit crunch caused by Silicon Valley Bank's collapse have not yet materialized, and the financial situation is much steadier. Additionally, inflation remains elevated, and with evidence of stubbornness in underlying inflation, it could be in the 4% to 5% range, far above the 2% inflation target. The markets are pricing in a 25bp Fed Funds rate hike to 5.25% at the May FOMC meeting, and given the steadiness in financial markets, persistence in price pressures, and continued decent activity, this could contribute to a further downturn in the crypto market. XRP/USDT short Entry Range: $0.45 - 0.51 Take Profit 1: $0.40 Take Profit 2: $0.36 Take Profit 3: $0.32 Stop Loss: $0.60
Short
by BuySellMarketMaker
Key Levels and US Market Review for the Asian session open 26/04Major Indexes in the US moved lower led by the Nasdaq while Europe is expected to play catchup when they open for the coming session and open weaker. Sentiment turned sour after some key companies either missed the mark on earnings or guided down while economic data came in weaker than expected triggering recession concerns again. The action was 'risk off' which could continue in coming sessions as both Gold and USD rallied on a safe haven bid and Copper and Oil (focused on demand) fell. I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed. Traders will now have to deal with recession talk which will hamper bulls and stoke selloff fears. Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
NKLA Is Nikola puting in a bottom ?NKLA is trying to make an all time low. Fundamentally, the last earnings were okay. Some members of the board are retiring soon. Technically, the relative selling volume is much higher than the moving 50 day average. The zero lag MACD shows no bullish divergence suggesting that that there is no impending reversal. The indicators K/D lines have not crossed indicating the moving average compression / convergence are continuing. Price has fallen outside the Bollinger Bands. NKLA finished out the week with some engulfing bear candles on the news of instability on its governing board. This is unlike the candlestick pattern when NKLA did minor pullbacks on the downtrend foreseen by small body red candles to setup up the minor pullbacks. All in all, as a penny stock, this is probably not shortable but it does have put options for $23.00 per contract for the $1.00 strike DTE 5 with a spread of 5% with high volatility and open interest ( reasonable liquidity) I will take a put option trade of several contracts targeting 50% return and setting a stop loss at 10%. I have always found it helpful to have some naked puts in the portfolio so when the general market of SPY / QQQ reverses t o the downside they can help the put options capture some profit in the synergy.
NASDAQ:NKLAShort
by AwesomeAvani
5
TSLA ludicrous mode bounceThis is not good or bad but we are coming back to the down trendline. What does this mean? It has been beat up for the whole month of December, and this short term support will face its biggest test of the new year. Bullish case the oscillators have to reset, how could that happen? With the momentum it did time to locate the support angle assuming last week was the base of the pivot. After this consolidation look for Tesla to test the moving average it rejected after breaking post November 2022 Bearish case don't fight the trend, go with the current. The rejection at the level it is at now is inevitable, this will test the line and fall. Looking for this to get a bounce around 105, thats ok. It will help to break under $100.
NASDAQ:TSLAShort
by JDTheGreat
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.
Short
by TopgOptions
2