🔥THE BINANCE FUD: IF THIS HAPPENS, NO ONE WILL SURVIVE
🔥 Hi friends! I don't want to share the FUD, so in this idea we will talk only about the facts and my trading plan for you.
📊 TIMELINE:
1. U.S. Attorney's Office May Charge Binance with Sanctions Violations - Reuters
2. Binance already denies report of possible U.S. Justice Department charges.
3. "smh, some media are still working for..." CZ said, most likely referring to the SBF.
The case is only gaining momentum, but here is what I want to note. Binance is the largest cryptocurrency platform. The exchange occupies about 56% of the entire cryptocurrency market. If something serious happens to Binance, it will be bad for all players in the market, including the main crypto Bitcoin.
🚩 After the collapse of FTX, it has almost no competitors left, so Binance can be considered a monopoly or the most reliable player depending on your point of view.
📊 TRADING PLAN FOR BNB
Since Binance responded very quickly to the allegations and opened all correspondence with Reuters journalists, I believe that this case will end well for Binance.
🚩 I would pay more attention to inflation data and rate hikes tomorrow and the day after tomorrow. This will have a bigger impact on the crypto industry in the medium term. The market expectation is a 0.5% rate hike.
🔥I think this scenario is the most likely:
1. local Binance Coin rebound
2. false breakdown of the key level, which was formed after this fall
3. growth of volumes during the false breakdown
4. bullish Bitcoin, which will definitely be if the Fed rate is raised by 0.5%
✅ THE MOST POSSIBLE TARGETS:
🔥 $320 - the key level
🔥 $360 - the key level and local high
Traders, what do you think about THE BINANCE FUD? How much longer will it continue and does this news mean that Bitcoin is already close to its bottom? Write in the comments!
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
📊 TIMELINE:
1. U.S. Attorney's Office May Charge Binance with Sanctions Violations - Reuters
2. Binance already denies report of possible U.S. Justice Department charges.
3. "smh, some media are still working for..." CZ said, most likely referring to the SBF.
The case is only gaining momentum, but here is what I want to note. Binance is the largest cryptocurrency platform. The exchange occupies about 56% of the entire cryptocurrency market. If something serious happens to Binance, it will be bad for all players in the market, including the main crypto Bitcoin.
🚩 After the collapse of FTX, it has almost no competitors left, so Binance can be considered a monopoly or the most reliable player depending on your point of view.
📊 TRADING PLAN FOR BNB
Since Binance responded very quickly to the allegations and opened all correspondence with Reuters journalists, I believe that this case will end well for Binance.
🚩 I would pay more attention to inflation data and rate hikes tomorrow and the day after tomorrow. This will have a bigger impact on the crypto industry in the medium term. The market expectation is a 0.5% rate hike.
🔥I think this scenario is the most likely:
1. local Binance Coin rebound
2. false breakdown of the key level, which was formed after this fall
3. growth of volumes during the false breakdown
4. bullish Bitcoin, which will definitely be if the Fed rate is raised by 0.5%
✅ THE MOST POSSIBLE TARGETS:
🔥 $320 - the key level
🔥 $360 - the key level and local high
Traders, what do you think about THE BINANCE FUD? How much longer will it continue and does this news mean that Bitcoin is already close to its bottom? Write in the comments!
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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