Binance FUD is everywhere. Will it stop or is a nuke loading?

16.06.2023

Dear traders,

Many bad news about Binance FUD are coming daily, bringing the price down. Crypto is strong, but governments are hitting hard.

Jake
TOP Trader

BTC pushed from support and hit the mid-channel resistance at $25,600. For bullish continuation, it needs to break and hold above. It still doesn’t look good and is in a bearish downtrend. The target of $24,000 is just a matter of time.

ETH still holds above the $1,630 support but is not showing strength for a bigger push up. It still has low volume and strength for a breakout above $1,700 and back to the channel.

XRP is still holding above $0.46, which is a big support. A breakdown could turn this bullish uptrend into a bearish nuke. It is still dangerous to enter with only small spot orders.

LINK is still holding above $5 after a big drop, and if it continues to drop below the green line, we could see a fast wick fill and hit the $4.7 support. This presents a favorable opportunity for dollar-cost averaging (DCA) in anticipation of a larger upward movement.

SOL is showing weakness and slowly dropping to $12.6, which is the wick fill target. It is still in a bearish downtrend, and lower targets are possible.

EOS is slowly filling the wick and now trades at $0.62, showing no momentum for a bigger push up.

LTC is still fighting with the midline resistance line below $75. However, in 40 days, there will be a halving event in LTC, which suggests a substantial price increase due to the reduction in mining supply. This presents an excellent investment opportunity for the long term!

DXY is slowly nuking and showing no strength for a resistance breakout.

Crypto/stock daily news:

GRAPH OF THE DAY: BTC ON EXCHANGES HITS 5-YEAR LOW

We’re in the middle of A Great Migration.

BTC is moving away from crypto exchanges for the (crypto) winter.

In 2020, 16% of BTC’s supply was on exchanges

Today, it’s only 6.4% of BTC’s supply.

It’s the lowest level since 2018.

Why? People are scared.

Centralized exchanges are shutting down, getting sued, or just flat-out stealing money. (*cough FTX cough*)

So it makes sense investors want to pack their crypto up and move to self-custody.

But it got us curious…

Where do YOU keep your crypto?

Self-custody: “I’m I-N-D-E-P-E-N-D-E-N-T, do you know what that mean?”
Third-party custody: I lose my wallet and keys IRL, I’ll lose my digital ones too.

FAST NEWS:

Apple’s threatening to kick off the Damus app (decentralized social media platform) because of its Bitcoin tipping feature. Apple has a strict 30% cut that it takes from all in-app purchases.

Adidas is teaming up with NFT artist Fewocious to launch a new shoe: The Adidas Originals Campus 00s. The kicks will be sold via NFTs ?

A court is letting Bittrex (a bankrupt crypto exchange) start allowing withdrawals today. It said it would stop operating in the US before the SEC sued it in April.

Subscribers to the r/Bitcoin & r/Ethereum subreddits hit an ATH last week. Many went private this week to protest Reddit’s new API pricing terms.