26.12.22 - 02.01.23
Last week results
Instruments:
The previous week did not go as expected. BTC and ETH struggled, while the Altcoin market dropped quite a lot. Everyone was hoping for a turnaround. However, due to the FXT CEO posting bail for 250 Million dollars, gave hope to the market but his peer CZ ( the Binance CEO ) came under pressure. This has put the whole market on a sideways trend, and it’s not over yet.
What happened last week :
▶️ A drug cartel with operations in several countries used Binance to transfer millions in illegal proceeds, according to a U.S. Drug Enforcement Action (DEA) investigation.
▶️ Solana’s Developers have abandoned their job and moved toward competitors like BNB, XTZ, and ETH.
▶️ Rumors emerged that CZ has manipulated the market and has shared ‘’insider trading’’ information during the FTX crash.
These week’s key events
The previous week did not go as expected. BTC and ETH struggled, while the Altcoin market dropped quite a lot. Everyone was hoping for a turnaround. However, due to the FXT CEO posting bail for 250 Million dollars, gave hope to the market but his peer CZ ( the Binance CEO ) came under pressure. This has put the whole market on a sideways trend, and it’s not over yet.
What happened last week :
▶️ A drug cartel with operations in several countries used Binance to transfer millions in illegal proceeds, according to a U.S. Drug Enforcement Action (DEA) investigation.
▶️ Solana’s Developers have abandoned their job and moved toward competitors like BNB, XTZ, and ETH.
▶️ Rumors emerged that CZ has manipulated the market and has shared ‘’insider trading’’ information during the FTX crash.
📈 BTC Holidays sideways strategy?
At the moment BTC, believe it or not on an ascending trend, starting with the 16th of Dec, it has tried to move up and kept certain resistance and support lines. It’s all coming down to how retail investors or institutional investors view the market. We will most likely see an incoming movement soon.
💡 3 reasons to buy BTC now:
🔹 Bitcoin markets are cyclical and previous ones have moved around halving events. If history is to repeat, the BTC cycle could be nearing its bottom soon.
🔹 Retail investors are holding more Bitcoin this year despite the meltdown of several high-profile companies. Furthermore, long-term holders also have the highest portion of BTC supply ever.
🔹 The Exchange Net Position Change is looking to revert, usually, after a negative metric, we could see a short recovery and this indicator is showing a possible reversal in the near future.
BTC: Exchange Net Position Change
🔹Technical analysis: We will reveal some strategies for BTC that will help either for a Pump or a Dump in the price.
Pump Scenario: Open a Long position at $16,920, apply a Take Profit level at $17,050, then remove it to $17,490. A Stop Loss level can be considered at $16,760.
Dump Scenario: Open a Short position at $16,690, apply a Take Profit level at $16,580., then remove it to $16,390. Consider placing a Stop Loss at $16,840.
Reinitiate a Long trade at $16,760. only if you see a strong rejection, then use the above trading targets.
❗️ Use this opportunity to make the right decision.
Exchange BTC
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