$15 billion worth of liquidations could happen if Bitcoin hits $72,000.
There are liquidations on the downside near $57,000 that need to be cleared first.
Expect some price drop before another big pump. 🚀
👨🏻💻 $BTC UPDATE
As $57000 - $57500 resistance was broken, #BTC immediately jumped above $60k! The reaction was remarkable!
Still, the price is in boundaries of correction of the big dump, so I wouldn't rush in longs just yet! Retest of $57k looks reasonable to me and provides a long trade with great RR!
One more reason why I don't want to rush is timing: today is Friday and basically anything can happen on the weekend. Let's be patient together 🙏
▫️Bitcoin's price reached $54,000 today but It has bounced back and is now trading above $57,000.
▫️There is a CME gap between $59,000 and $62,000, so the price might go there.
▫️After that, a drop is expected because Trump's chances of winning are decreasing, which could negatively impact the market.
🚨 China is Dumping ETH
Approximately 789,533 #ETH worth $2 billion is on the move from dormant wallets that have been inactive for 3.3 years.
These funds are linked to the infamous Plus Token Ponzi 2. In 2020, Chinese police seized a staggering $4.2 billion in crypto assets from this crackdown.
Here's what was seized:
🔻 194,775 $BTC
🔻 833,083 $ETH
🔻 1.4 million $LTC
🔻 27.6 million $EOS
🔻 74,167 $DASH
🔻 487 million $XRP
🔻 6 billion $DOGE
🔻 79,581 $BCH
🔻 213,724 USDT
It appears that Chinese authorities might be preparing to dump their crypto holdings! 🤷♂️
#BTC has approached the zone where I believe local top should form. Good place to seek for short setups!
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📌Over $3.8 trillion has now been wiped from the stock and crypto markets within the last week.
➡️This crash is now ranked the largest destruction of wealth in history.
#BTC 2020 vs #BTC 2024
This is very reminiscent of the covid crash in March 2020
Descending Broadening Wedge 🧐
By the way, #BTC left a significant CME gap above! This is one of the gaps that will be closed for sure!
Читать полностью…#SOL reacts much better than #ETH! The price is still way above 0.382 Fibo level, dancing around mid.
$91 is the last stand for #SOL bulls!
#BTC dumped right into 0.382 Fibo. Remember that technically this level needs to hold, because otherwise correction becomes a market switch from bull to neutral/bear!
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Price always oscillates between internal range liquidity & external range liquidity
IRL → ERL (Continuation setups)
ERL → IRL (Reversal setups)
It doesn't matter what entry type you use, they overlap regardless. Find the draw on liquidity and execute with managed risk ↓
#CryptoEase
$SOL is holding up very well
Ironically, we got that Fake out in 5 days after I dropped that possibility 😅
Anyway, now I’m even more convinced that $SOL is gonna break out relatively soon and reach my $300 target 🚀
‼️BREAKING NEWS: After 6 long years celebrations are in order for Ripple and XRP‼️
Today marks the end of the SECs attack on the Crypto space confirming XRP is not a security, this is a massive win for the entire ecosystem of Digital Assets and the only question we are left asking is what happens now? Only time will tell but XRP has already moved 20% since the announcement. 👀📈
Most Binance tokens in 2024 have lost value.
Out of 30 tokens listed this year, Only one is showing gains.
Centralized exchanges have become dumping grounds for VCs, with Binance users as exit liquidity.
Click here for more details
Bitcoin ETF Trading Volume Hits $2.1 Billion Today!🚀
The total Bitcoin ETF’s trading volume has gone over $2.1 billion today. Make it the highest trading volume in a Single-day.
🌐Source: WSJ
👨🏻💻 $BTC UPDATE
Fibo retracement is a must check TA instrument after this kind of moves! I believe #BTC will set a local range high between 0.618 and 0.5 Fibo levels!
After range high establishes, #BTC is likely to go down to recent lows. Thus I wouldn't buy just yet, just let the range form to understand the lows and highs!
🇺🇸 FED Rate Cut Speculations — It May Be Coming
Futures on SOFR and Federal funds rate indicate a potential interest rate cut by the Federal Reserve, with SOFR futures suggesting a 25 bps cut by August and a 50 bps reduction by September.
Chicago Fed President Goolsbee emphasized a focus on employment and price stability over market volatility.
🌐Source: Streetfinder
👨🏻💻 $BTC UPDATE
Let's define our main local range area: $50500 - $53000 zone. If bulls are awake, the price should stay inside this blue zone to pump later. However, #BTC is losing this range as I type this text 🤒
In case this range is lost, there are two support zones: $40k - $44k and $44k - $47k. These areas are very likely to hold the price, they are great to form a global bottom!
The most important is timing. If #BTC stays above $50k, global bottom will be formed in a matter of weeks. If #BTC dumps to lower support zones, global bottom will be forming for months! That's why I really hope bulls are ready to hold the line 🙏
The VIX (stock market volatility index) is the highest it's been since:
2020 (pandemic)
2008 (global financial crisis)
Crazy stuff
#ETH dumped super bad, below Fibo correction zone. A small bounce is the best you can get here 🥲
Читать полностью…🇯🇵 Let's start with NIKKEI, as Japanese market was the catalyst of the move.
Here's the deal: for the first time in decades Bank of Japan hiked the interest rate to 0.25%. It seems relentless, but this actually is the reason of the huge dump!
A lot of funds borrowed money in Japan basically for free. Then they used this money to buy bonds, stocks and crypto. Now, as interest rate surged up, this scheme is no more profitable! Thus, funds and individuals are selling their equities to pay the debt.
As a result:
- US bonds down
- Dollar down
- stocks down
- crypto down
- Japanese Yen up
You only see these situations only once or twice in a year. Top altcoins are 30-40% down!
Buy the Dip by chance if you have have money 😂😂