The market has broken through a key level, causing concerns about the future!

CN
1 year ago

CZ stated in an AMA: "First of all, anyone holding BNB should be allowed to vote in support of certain things, otherwise they are just passive participants, such as Binance Labs' investments, both of which may be related to regulation, which requires us to think deeply, but overall, the idea is good. We can try to explore the possibilities of the product.

On the other hand, legal issues of cryptocurrencies also need to be considered. We can definitely try to explore the possibilities of the product. However, voting for investments is somewhat complicated, and choosing to support certain projects may lead to disagreements or tense situations, depending on how we proceed. Therefore, we need to be very cautious to avoid this situation, but overall, it's a good idea and we should explore it."

CZ is very likely to increase incentives for BNB holders. If an amazing gameplay comes out, it is very likely to push BNB to a higher position, which is worth looking forward to.

Highlights of Important News:

  1. The cryptocurrency exchange ZTGlobal is suspected of running away.
  2. VolatilityShares plans to launch an Ethereum futures ETF.
  3. A US judge opposes Analisa Torres' preliminary ruling on the Ripple case.
  4. A US judge rejects Terraform Labs' motion to dismiss SEC fraud charges.
  5. The $168 million loan position held by the founder of Curve faces liquidation risk.
  6. MakerDAO co-founder: The Curve vulnerability may be the last collapse before the bull market.
  7. The US IRS: Once staking users receive reward tokens, the reward should be taxed.
  8. Ethereum worth over $68 million has been bridged to the Base network in the past 48 hours.
  9. DCG: About to reach a preliminary agreement on resolving the Genesis Capital bankruptcy case.
  10. Foreign media: Coatue Management raises $331 million for its latest fund, far below the target amount.

BTC:

It's been a long time since the last article was updated. In the previous article, Huage also gave a hint to pay attention to the support at 29500 in the box, breaking through which would lead to a sharp decline, or even the end of the market. Currently, Bitcoin has broken through the previous oscillating box, indicating a breakdown in structure. Huage believes that the short-term market is more bearish. The four-hour oscillating box broke through again this morning, further confirming the strength of the bearish trend, with the risk of further downside in the subsequent market. Huage suggests focusing on observation in the near term and paying attention to controlling positions for those with heavy positions.

eth:

Ethereum has broken through the 120-day moving average, which is a signal to exit. It is very likely that the current uptrend in Ethereum has ended. It is recommended to focus on risk management and control.

XRP:

The high probability of the recent uptrend in XRP has also ended. Unless there is a significant positive stimulus, the market is likely to be dominated by downward oscillations in line with the overall market.

ARB:

The upward oscillating trend of ARB has already broken through. It is expected that the short-term trend will not rebound, but rather undergo oscillating adjustments, or even passive declines. It is advisable to observe in the short term.

LTC:

Litecoin will halve in two days, and there should be no more opportunities. Litecoin can be said to be the biggest joke of the year, mainly because there are not enough hotspots this year, and funds have all gone to bet on Litecoin's halving, leading to the main force not pulling up the market and frequently harvesting retail investors. This dog, Litecoin, will be blacklisted in the future.

ETC:

The high points of the rebound in ETC are gradually decreasing, and once again closing below the 120-day moving average, it is estimated that the subsequent market will not be very good and may undergo downward oscillations.

Platform Coins:

BGB is oscillating at a high level, with no short-term trading opportunities. Patience is required.

Wealth Code:

With Bitcoin breaking through, the market is weak, and there are currently no recommendations for small coins. Wait for this wave of Bitcoin's decline to end, and there will be a large number of small coins rebounding sharply. Then it will be time to enter the market.

The above analysis is for reference only and does not constitute investment advice!

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