X(Twitter)🌐: @josnbulls. Once a critic, now an avid crypto advocate & Investor. Blockchain & NFT enthusiast. Learning trading from the highs and lows everyday.
🏛️ Ryan Salame Gets Dumped For 7.5 Years in Prison—
But You Can Keep The PORSCHE Dear 🏎️
The former co-conspirator to Sam Bankman-Fried has been sentenced to 90 months in prison— But he can hold onto his luxury toy.
📰 Former FTX executive Ryan Salame was sentenced to 7 & a half years in prison on Tuesday, making him the latest leader of the fallen cryptocurrency exchange to land behind bars for his role in its downfall. But the news isn't all bad for Salame.
While the one-time lieutenant to FTX founder Sam Bankman-Fried (SBF) and co-CEO of FTX Digital Markets Ltd. was braced for a years-long prison sentence—delivered in a Manhattan courtroom on Tuesday—federal prosecutors said Salame can hold onto a luxury car he purchased amid FTX’s meteoric rise before the ruling.
The value of his 2021 Porsche 911 Turbo S "doesn't have sufficient equity to further pursue forfeiture,” the government said in a filing, arguing Salame should be required to pay the vehicle’s maintenance cost of $1,500. Previously, Salame agreed to forfeit $1.5 billion worth of assets in connection to FTX-related crimes.
Weeks before Bankman-Fried’s trial began—in which the former crypto mogul was found guilty of stealing $10 billion from customers, investors, & lenders—Salame struck a plea deal. He pleaded guilty to violating campaign finance law and operating an unlicensed money transmitter business last Sept. With U.S. District Judge Lewis Kaplan deciding his fate, other former SBF associates are now waiting in the wings.
Salame’s lawyers claim that their client was “duped” by Bankman-Fried into thinking FTX was stable. Yet prosecutors argued in a sentencing memorandum that Salame yanked over $5 million worth of crypto from FTX as the exchange buckled under a bevy of customer withdrawals in November 2022—just before it declared bankruptcy and shut down.
Though Salame made efforts to cooperate with the government, prosecutors described his interactions as “relatively minor” compared to other FTX insiders.
$PEPE After The Humongous Rally In The Previous Week, Pepe Is Now Poised For A Small Correction. 📉
That massive weekly candle is evidence of how much buyers are getting in, even at a higher price.
📊 So, my analysis and deductions are inclined towards a retracement that will be hitting the support of $0.000015 followed by $0.000014. It may go down a little from this point but that won't be long enough and $0.000014 will be a strong support level.
To my Binance square fam who were eager to know about when to enter, this is what you should be monitoring this week. If the price reaches these levels you can enter.
📢 Although I advise you to do your own research a bit as well.
As of now we can see the price broke the support of $0.000016 and made a low of $0.0000156 for the day. So, it is quite evident from the price action that Pepe is trying hard to stay above the support.
But the selling pressure has an upper hand, so we will witness some downward movement.
You should always keep this in mind: Save your capital in the first place, profits will follow up.
Yes, it may sound weird, but it's way more difficult than you think since it involves avoiding many traps meant exclusively for new traders.
Here, I'm listing some extremely important points that should be followed by beginners trying their hand in crypto:
1️⃣ Stay away from futures.
You'll simply lose because you're no trader. Many creators will literally convince you that trading is super easy and fun. But the reality is just the opposite. Trading requires a hell lot of patience and practice. An experience of a few weeks won't make you profitable in the long run.
2️⃣ Stop buying signals and don't blindly follow whatever they say.
These self proclaimed experts will drain your money faster than you think. They have partnerships with crypto projects and will promote a certain crypto because they're paid to do so. In fact most of these experts don't even trade and they fill their pockets with your money in the name of signals
3️⃣ Market is always the king 👑
Stop listening to the masses; they're wrong most of the time. When you hear a hype about some coin, you should realise that it's too late to buy. And if you have some, it's time to sell. This happened with Shib and Doge in the last bull run. People bought late and many went into losses.
4️⃣ Invest only that you can afford to loose
If you have $5000 in your bank account, then only invest $300-500. Investing more than say $2000 or even higher will put you in a psychological stress when you incur losses. So don't get overwhelmed by emotions. Try to trade and even invest like a robot.
I hope this will help many brothers and sisters out there.
This is my personal opinion from my past experiences. Lend your support by hitting the like & share button and follow me for more such advice. Although I've never asked before, you can also tip me to reward for the hard work going in to bring such content.
The week kicks off with this huge candle and the volume speaks for itself. And it seems Floki is ready to surge even higher and make a new ATH this week.
📊 At the time of writing it attempted to break the resistance of $0.00027, but it was touch and go. With almost 18% up for the day, it is trading near $0.0002694.
Although the pattern looks similar to what Pepe did in the last week and continues. Then what might happen is that the price will retrace a bit and take support at the upper trendline.
📌 The profit booking won't bother this massive rally much, but if the retracement goes a little deep then the immediate support is at $0.00025 followed by $0.00024.
Those who are thinking about opening the position in the spot should wait a little. As of now this massive surge has fuelled the buyer's expectations to another level.
Floki has now arrived at the centre stage. Get ready for some action friends.
The week kicks off with this huge candle and the volume speaks for itself. And it seems Floki is ready to surge even higher and make a new ATH this week.
📊 At the time of writing it attempted to break the resistance of $0.00027, but it was touch and go. With almost 18% up for the day, it is trading near $0.0002694.
Although the pattern looks similar to what Pepe did in the last week and continues. Then what might happen is that the price will retrace a bit and take support at the upper trendline.
📌 The profit booking won't bother this massive rally much, but if the retracement goes a little deep then the immediate support is at $0.00025 followed by $0.00024.
Those who are thinking about opening the position in the spot should wait a little. As of now this massive surge has fuelled the buyer's expectations to another level.
Floki has now arrived at the centre stage. Get ready for some action friends.
$FLOKI Finally The Long Awaited Breakout Happens Today 📈🚀🚀
The consolidation zone was a heck of a waiting period, but it was worth it. Usually in such scenarios when the resistance is broken, a big momentum candle appears and the box becomes a perfect set-up to look out for such winning trades.
📊 Though Floki broke the bullish Flag & Pole pattern slowly and steadily, the momentum was actually lacking. It took support on the upper trendline, stayed flat for some time and then tested the support at $0.00016 for the final time to fuel the reversal.
📌 Breaking the $0.0002 level and trading comfortably above it shows the strength that Floki has finally regained. Anticipation is good, but that doesn't mean you are in complete control of the situation. I've seen creators posting regarding Floki's progress, calling it a breakout on Monday itself.
📌 Until it surpassed the $0.0002 zone, it was within the box and wasn't a breakout. Now we are witnessing the bullish scenario back again, it's time to keep an eye on the crucial resistance levels and the next target 🎯 should be $0.00025
All we need is the day's closing above $0.0002. If it closes above $0.00021 or 0.00022, we are in for a ride. The recent updates have been showing strong positive signs for Floki and it's taking charge now in the memecoin run. ✨💥🚀🚀💲
Cristiano Ronaldo Announced 4th NFT Collection Launch on Binance 🧨🎉🎊
Social Media is Buzzing!
The “GOAT” Ronaldo thrilled his fans with an exciting announcement.
Superstar footballer Cristiano Ronaldo just dropped a bombshell on social media: his fourth NFT collection is coming soon! This new collection will take fans through important moments of Ronaldo’s illustrious career, tapping into the growing demand for unique digital assets.
With the NFT market booming, will this collection be another smash hit? Read on to find out everything we know about Ronaldo’s latest venture.
🤝 Binance quickly joined in, sharing, “Curious about Cristiano Ronaldo’s latest NFT collection?” This collaboration between the football star and the crypto giant has captured the digital community’s attention.
📖 CR7‘s History with NFTs
Ronaldo’s NFT journey began in November 2022 with his debut collection on Binance, marking the start of a multi-year partnership. This first collection highlighted iconic moments from his career, with the rarest items selling for nearly $10,000.
However, the partnership has faced challenges. In December 2023, Ronaldo was hit with a $1 billion class-action lawsuit, accused of promoting NFTs that led to costly customer investments. Binance also settled a $4 billion dispute with US regulators, resulting in CEO Changpeng Zhao stepping down. Despite these issues, neither Ronaldo nor Binance commented on the lawsuit.
👏🏽 Anticipation is building!
Hints of new projects from Ronaldo have kept fans on edge, eagerly awaiting the launch of the new collection. Scheduled for release on May 29, this latest NFT collection promises to highlight more significant moments from Ronaldo’s career, continuing his innovative partnership with Binance.
$ETH $UNI The Secret For That Perfect Entry & Grabbing Big Moves 💲📈
✨ FAIR VALUE GAP
Let's understand FVG first.
📊 FVG is a situation when price moves up or down in an insane amount creating huge candles. Now FVG are of two types:
1. Bullish FVG 📈 2. Bearish FVG📉
Usually in such situations the price moves so rapidly, it doesn't give any time to the buyers/sellers to counteract the move creating an imbalance in the market.
📢 Here, I'll explain the bearish FVG because the market is reversing as the downtrend is coming to an end. So, the buyers will naturally retest this zone.
🖍️ You can mark a FVG by simply marking the candle's top wick before the big move to the candle's lower wick after the big move.(Look for the blue arrows in the chart).
The daily charts of ETH & UNI have this green box which is the FVG. Now after the contd downtrend when the price reverses and comes near this box it must close inside or below the box to make the FVG valid & justified.
Result: Downtrend continues further.
Now when the FVG is valid and the price reaches support, we look for entry. Make sure the support levels are tested multiple times and not broken downside.
📌 So, the best thing to do in this situation is either buy near support. 📌 Or If you have a pre marked entry level, then wait for the reversal from the support.
🙇🏽♂️ What I did in Eth was I waited for a reversal and didn't buy near support. So when ETH broke $3000 & stayed above this price I entered. Similarly with Uniswap as well.
When the big move comes, the price must close above (outside) the box to make the bearish FVG invalid & give you a profitable trade. 💸💰
The exact opposite of this is Bullish FVG which can be implied after an uptrend to look for selling opportunities.
📢 You'll find such FVG's in plenty on the charts. Start practicing & your life will be much easy.
$NOT Still Not In Favour Of Entering Spot At This Moment. 🚫
Just playing the waiting game. Whatever doubts I had that I posted earlier are taking the shape of reality.
And the decline is getting deeper. 📉
Today I'm sharing some key points on the 2h time frame as 20 & 50 DMA(daily moving average) have come into existence. Although things look pretty much same on the 1h time frame as well with 20, 50 & 100 DMA appearing.
📌 Now $0.005 was the support level to be hit which I mentioned earlier( check pinned comment on the thread below) and the support looked promising for some time but as expected this level was broken too. So, this price becomes immediate resistance.
📌 Continuing further from the last post, since we're in a price discovery zone, new support levels are seen and getting broken with ease. Result: Further downside. Currently, the support looks promising at $0.0048 although at the time of writing it's trading above $0.0048.
📌But here's the twist I'd still not consider this a good entry as the price action is weak. Also indicators signal further weakness. So have patience and let's see how low it can travel.
There are a few things I'm analysing on the chart and if the day's closing goes as per my expectation, I'll share a spot entry related post.
Till then, just wait and watch. Have a great fall.
And to add more salt to it, it's even more bearish than yesterday. It was like a stage getting set for correction.
The support levels I mentioned in the previous post are broken (check thread) and there seems to be no end to the liquidity grabbed by the big fishes.
The misconception of a reversal raised for some time but it was just a trap. Check those markings. Recent support it took was at $0.006 and it seems here also $NOT won't show any resilience either. So now we're left in the price discovery zone.
Sorry to share this bearish view again friends. Let's wait and watch.
$PEPE Now That's What I Call An Ideal Bullish Movement 📈
So when the price breaks the ascending channel and closes above it, it needs to take a deep breath as well coz exhaustion comes into play.
What to expect? 🤷🏽♂️
Obviously some Profit Booking 💆🏽♂️
And as the profit taking session concludes, price takes support at the resistance (upper) trendline and goes up again. A simple way to understand how price action works.
So after hitting new highs, $0.000014 is getting the tag of the new resistance and now $0.000013 will be the immediate support.
Repeating one more time: Elimination of one more zero is just a matter of days away.
$ETH Buying Ethereum Now Is Like Buying Real Estate In Mumbai Back In The 1920's.
If Eth hits an ATH of somewhere around $12000, then it would come down to hit the bottom of $3000-2500 during the bear market.
Let's simplify this.
In the previous cycle Eth hit an all time high of $4868 during the 2nd week of November, 2021 and when the blow off top kicked in, the correction started and it hit a rock bottom of $881 in the 3rd week of June, 2022.
A downfall of just above five times from the ATH.
Hopefully, things are going according to the data from the previous cycle and it seems to continue in the future as well.
Harsh Statements from Altcoin Under Threat of Lawsuit.
📢 Uniswap Labs, the company behind the largest decentralized crypto exchange, has called on the Securities and Exchange Commission (SEC) to drop its planned lawsuit against them, arguing that the fight is not worth it.
In April, Uniswap Labs received a Wells notice from the SEC, a warning that the regulator believed the company was violating the law.
In the notice, the Uniswap protocol was accused of operating as an unregistered securities exchange, while its interface and wallet were accused of being an unregistered securities broker.
✍🏽 In response to the SEC's Wells notice, Uniswap Labs disputed these allegations. The company argues that the protocol does not meet the definition of an exchange and is therefore not subject to SEC regulation.
Uniswap Labs Chief Legal Officer Martin Ammori stated that the SEC must redefine the concept of an exchange to have jurisdiction over Uniswap.
According to the current definition, Uniswap should have been designed specifically for securities trading. “It is a general purpose and the majority of its volume consists of non-security assets such as Ethereum, Bitcoin and stablecoins,” Ammori said, noting that these assets constitute 65% of the protocol's transaction volume.
📌 Ammori also pointed out that the SEC's current exchange definition does not include any of Uniswap Labs' products.
Additionally, Ammori rejected the SEC's claim that Uniswap's interface and wallet are brokers, citing a recent federal court decision rejecting the SEC's claim that Coinbase Wallet is an unregistered securities broker.