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BTC Update:-
1. Price is still following the parallel channel and bouncing from bottom of channel support
2. Now if price wants to test upper level of the channel then 17.5k must be reclaimed.
3. US Stock markets had a really bad price action in last days falling non stop which highly impacted BTC as well.
4. For BTC on LTF structure is till bullish with HIGHER LOWS being formed.
5. If price loses this channel and closes below last HL as mentioned in chart. Then structure would change to bearish and shorts would be more profitable.
BTC Update:-
1. BTC bounced good yesterday near FOMC meeting and fall afterwards.
2. Price reached top of the parallel channel and also 18.3k which is a major resistance.
3. And it rejected from there right after interest rates decision was announced.
4. Powell said There will not be more decrease in pace of interest rates unless FED sees inflation towards 2%.
5. Markets took it hard and retraced the whole move.
6. Now for BTC 17.5k is must hold area as it was previous lows which held for a long time.
If you took a sort scalp from major resistance and channel top make sure to book your profits and use StopLosses in profits.
BTC Update:-
1. Yesterday's CPI data lower than expected had a quite positive impact on price.
2. Stock markets had a good bounce and after that retraced back the whole move which had an impact on BTC as well.
3. BTC price almost reached 18.3k on some trading pairs which is an important resistance.
4. Now tonight FOMC interest rate hikes is important. Altough there is high probability of 50bps rate hikes but if FED still goes hard with 75bps we will see some dump in the markets.
5. And very unlikely 25bps if happened will lead to huge rallly. And 50bps is most priced in we might have some good movement with this as well.
Trade accordingly what news follows and make sure to keep your active positions secured before the meeting and monitor it closely.
Canada to ban margin and leverage trading for #Bitcoin and crypto
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SEC Charges Sam Bankman-Fried With Defrauding Investors in Crypto Asset Trading Platform FTX
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Binance responds by saying Reuters' report is wrong
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Terra founder Do Kwon is currently based in Serbia, and the South Korean MOJ is asking the Serbian government to cooperate in the investigation. South Korea seeks Do Kwon's arrest on charges of providing false information to investors
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There are some abnormal price movements in many coins which are done on purpose by some people or groups especially on weekends when there is less liquidity.
Don't get trapped in these. STAY SAFE
2024 is going to be Bullish / Bearish year for Crypto 👇👇
https://twitter.com/earnwithsapna/status/1601481937721647105?s=46&t=Swskl61Xn6UT1OCwIB-ssg
Sam Bankman-Fried is willing testify on the 13th
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In November, Bitcoin recorded the largest outflows from exchanges in its history, with net outflows of 91,557 BTC.
Since FTX, centralised exchanges have witnessed a string of outflows as market participants look to safeguard their funds.
People are taking self custody of their coins. This is good.
WAVES was flagged as an "investment warning" by the Korea Federation of Exchanges. The reason is that the USDN stablecoin has been fluctuating rapidly. Upbit will decide whether to terminate the WAVES transaction within two weeks
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"Federal prosecutors are investigating whether SBF and Alameda orchestrated the Luna/UST collapse"
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Microsoft uncovered an attack targeting cryptocurrency startups. They gained trust through Telegram chat, and sent an Excel titled "OKX Binance & Huobi VIP fee comparison.xls", which contained a malicious code that could remotely access the victim's system.
If you use windows system for trading or your wallet make sure to read this and secure your system if there is any malware present to protect your capital.
And also share to your friends for their safety. Stay Safe 🔴🔴
Binance today announced delisting of MITH.
This project that was dead for 2 years and didn't have a single Tweet since Jan 2021 rushes to Twitter to ask for their money back after delisting.
Reminder ⚠️: FOMC Interest Rates Hikes decision will be coming out today at 12:30AM IST.
Now after yesterday's CPI data which came out lower than expected at 7.1% and latest press confrence of FED Chair Jerome Powell indicated that there is 80% probability of a 50bps rate hikes this time and 20% probability of 75bps rate hikes.
There will definitely be Volatility at that time and at 1:00 AM is FOMC Press Confrence where Powell will speak.
Stay Alert ⚠️⚠️
CZ confirmed Binance had more than a Billion dollars worth of withdrawals today(Probably due to ongoing Binance FUD). And everything is working as usual and it is a good idea to "stress test withdrawals " on CEX.
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BTC Analysis:-
1. Btc again had a retest of parallel channel and is bouncing again from there.
2. Last Higher Low is still intact so market structure is still bullish here.
3. Now 17.5k is still a resistance area rejecting price on every touch.
4. Rest all depends on the CPI data coming out in 2 hours.
If it came as expected near 7.3% we may see some bounce and if it comes higher we may see some downside due to it.
5. Based on the CPI data we will see rate hikes tomorrow.
Either way there will be volatility in the market this week and in next hours so trade carefully.
Reminder: US CPI Inflation data will be coming up today 13th December at 7:00PM IST.
Last time it was 7.7% and estimated is around 7.3%. If it arrives as expected or much lower markets may rally. And if it comes higher than expected or near 7.5% we may see some downside. Eitherway there will be volatility at that time. Make sure to keep your StopLosses up.
Stay Safe ⚠️
US Prosecutors Consider Charging Binance and Executives for Possible Money Laundering, Sanctions Violations - Sources: RTRS
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Binance “temporarily locked withdrawals” for some accounts that were profiting from it.
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Due to weekend there is less volatility in the market. Sentiment is slightly on the positive side here.
Next week is going to be a big week with CPI and FOMC. If inflation comes lower than as indicated by Powell interest rates might be slowed down and markets may rally. So next week is gonna be full of volatility.
Enjoy your weekend.
India took over the G-20 presidency and Looks to Coordinate Global Crypto Rulemaking
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BTC Analysis:-
!. BTC is currently moving in a parallel channel upwards with bullish momentum.
2. Price just bounced from mid 0.5 FIB ratio and bottom of the channel.
3. And if we look clearly there is Higher Highs and Higher Lows being formed by price which is good.
4. Now if price hold above here 17.1k which is a above a small range in between we can expect the price to move towards 17.5k and even top of the channel towards 18.2/3k which is an important HTF resistance as well.
5. And if price starts loosing momentum here and loose of latest Higher Low will take price towards lows.
Ethereum developers target March 2023 for Shanghai Hardfork and release of staked Ether
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CEX and DEX to be available on one platform as Bybit integrates with ApeX Pro.
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US SEC Chair Gensler Says Crypto Exchanges labelling them as 'CRYPTO CASINOS' should come into compliance with law.
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Alameda's VC portfolio via FT
Largest token investments (according to this spreadsheet)
HOLE - $67.5m
Polygon - $50m
NEAR (FTX) - $50m
Port Finance - $33.5m
NEAR (Alameda) - $30m
MINA - $20m
Fuel - $15m
1Inch - $10m
Secret Network - $10m
Euler - $5.6m