ðĨBINANCE âïļ FTX: how will this battle endâTime to buy moreâ
ðĨ Hi friends! CZ, Binance CEO, said that going to sell their FTT (FTX Tokens) worth about $600 million. The tokens will be sold for 2 months to not manipulate the market artificially. The reason for conflict is the possible bankruptcy of FTX. FTX reserves in ETH fell to a two-year low of 108,000 ETH from 400,000 ETH just three days earlierâïļ
ðĐ Binance received FTT as part of its exit last year from an early position in FTX exchange, which they had held since 2019. FTX bought Binance's stake in the company for $2.1 billion in FTT and BUSD.
â Finally, this story could end badly for the bulls. FTX is a TOP 2 exchange and if it collapses, it will be much worse for BTCðŧ than the case of Terra Lunaâïļ
â What happend to FTX and BNB in the 2-3 weeks? Here the 2 scenario for you to open the BEST tradeð
ð THE FTX SETUPS
ðĨThe most negative scenario will be the falling of FTX below the current lows at $15. It can trigger the massive sells off. Why the worst scenario for FTX can happen?
Another risk of a further drain on FTT tokens if Alameda fails to prove that it did not sell tokens to the Bybit exchange (BitDAO).
The BitDAO community has said it will vote on the fate of the FTT tokens it holds on its balance sheet unless Alameda provides proof that it continues to hold BIT tokens on its balance sheet as promised, rather than selling them into the market.
ðĐ This would mean that FTX is trying by all means to get rid of it and sell all of its holdings and trigger the massive DUMP.
ðĨThe positive scenario if FTX still hold BitDAO and the price return to the $22-29 value area, where the whales and retail accumulate FTX tokens. In this case we can assume that everything is okay and should try to find mid-term entry point. There are always a lot of possibilities after such shakeouts.
ðĐ Just take a look on the volumes indocator on FTX. I leave for you 2 callout that have to show you retailers mentality. They bought a lot at the all-time highs and sells now in a HUGE loss. Remember this when the next bull market will be finished and you already make a lot of money.
ð THE BNB SETUPS
It was my scenario for BNB almost 1 month ago. BNB already make +36% and reach my targets. Take a look on the volume indicator. TThe volume is squeezing before the PUMP and it was the importnat precondition to opne a long.
ðĨPositive scenario for BNB would be a close above the $337 key level. In this case the price continue to grow.
But if it close below the key level, it would be the false breakout and the price will fall to the closest support at $260-310 with high possibility. There we can wait for some price reaction and find the entry point to open a long/short.
ðĐ Another rumor is the FTX CEO Sam Bankman-Fried "helped" the Luna to colapse and as far as you remember, Binance lost almost 1.5B in Luna. Is this another reason for CZ to remove the nearest competitor from the market?
What is your opinion about this situation? Is it worth buying FTX now or will the price fall even lower? Write in the comments!
ðŧFriends, press the "boost"ð 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.
ðĐ Binance received FTT as part of its exit last year from an early position in FTX exchange, which they had held since 2019. FTX bought Binance's stake in the company for $2.1 billion in FTT and BUSD.
â Finally, this story could end badly for the bulls. FTX is a TOP 2 exchange and if it collapses, it will be much worse for BTCðŧ than the case of Terra Lunaâïļ
â What happend to FTX and BNB in the 2-3 weeks? Here the 2 scenario for you to open the BEST tradeð
ð THE FTX SETUPS
ðĨThe most negative scenario will be the falling of FTX below the current lows at $15. It can trigger the massive sells off. Why the worst scenario for FTX can happen?
Another risk of a further drain on FTT tokens if Alameda fails to prove that it did not sell tokens to the Bybit exchange (BitDAO).
The BitDAO community has said it will vote on the fate of the FTT tokens it holds on its balance sheet unless Alameda provides proof that it continues to hold BIT tokens on its balance sheet as promised, rather than selling them into the market.
ðĐ This would mean that FTX is trying by all means to get rid of it and sell all of its holdings and trigger the massive DUMP.
ðĨThe positive scenario if FTX still hold BitDAO and the price return to the $22-29 value area, where the whales and retail accumulate FTX tokens. In this case we can assume that everything is okay and should try to find mid-term entry point. There are always a lot of possibilities after such shakeouts.
ðĐ Just take a look on the volumes indocator on FTX. I leave for you 2 callout that have to show you retailers mentality. They bought a lot at the all-time highs and sells now in a HUGE loss. Remember this when the next bull market will be finished and you already make a lot of money.
ð THE BNB SETUPS
It was my scenario for BNB almost 1 month ago. BNB already make +36% and reach my targets. Take a look on the volume indicator. TThe volume is squeezing before the PUMP and it was the importnat precondition to opne a long.
ðĨPositive scenario for BNB would be a close above the $337 key level. In this case the price continue to grow.
But if it close below the key level, it would be the false breakout and the price will fall to the closest support at $260-310 with high possibility. There we can wait for some price reaction and find the entry point to open a long/short.
ðĐ Another rumor is the FTX CEO Sam Bankman-Fried "helped" the Luna to colapse and as far as you remember, Binance lost almost 1.5B in Luna. Is this another reason for CZ to remove the nearest competitor from the market?
What is your opinion about this situation? Is it worth buying FTX now or will the price fall even lower? Write in the comments!
ðŧFriends, press the "boost"ð 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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