Will Binance fall? How low can Bitcoin go? FOR BITSTAMP: BTCUSD by Tradersweekly – Technische Analyze – 2022-12-19 17:18:36

price bitcoin I stumbled upon it right after our last post. Is that true, bitcoin It erased all of its gains and returned to the narrow range before breaking below it. Currently, it is trading near the lower end of the range at $16,800. As for our position, we are continuing bearish employment BTCUSD And she remains skeptical of the claims at the bottom of the market. We believe that the bear market is not over yet, and bitcoin It will set new lows over time. Therefore, we keep our price targets at $15,000 and $13,000.

However, there are increasing opportunities bitcoin falls much lower. Especially when we consider that the stock market may only be halfway through a bear market and that the economic situation will continue to deteriorate in the coming months. We see more rate hikes as very negative bitcoin and the overall cryptocurrency space, which is closely related to the stock market. As a result, we expect this to impact the corporate side of the market, which leads us to what I have a lot of questions about – will Binance go down? We simply don’t know. But we know that a financial institution needs liquidity and sufficient revenue generation to continue its operations. In 2022, Binance competitor Coinbase has had trouble realizing the latter.

The company lost more than $1.9 billion in the first three quarters. Moreover, Coinbase revealed a surprising drop in trading the sound From $327 billion to $159 billion (year) in the third quarter of 2022 (down from a peak of $547 billion in the fourth quarter of 2021). All this, while Coinbase only has about $8.1 billion in market cap. Anything that makes us wonder if a systemic fall must come from Binance. Perhaps Binance could fall as a result of the coordinated bankruptcy of other companies. So, we’re raising caution to a very high level. In the event of a systematic collapse, we would expect bitcoin It drops below $10,000.

Illustration 1.01

to support us bearish Thesis, we would like to see the price not be able to hold above $16,800. Additionally, we’d like to see a download in the sound accompanied by a lower price.

Technical Analysis
Daily time frame = neutral/easy bearish
Day of the week = neutral/easy bearish

Illustration 1.02

Illustration 1.02 is shown daily chart From BTCUSD and two simple moving averages. We’d like to see one bearish The intersection of these moving averages for further support bearish thesis.

You are welcome to express your thoughts and ideas in the comment field.

Disclaimer: This analysis is not intended to encourage the buying or selling of any particular security. Further, it should not be the basis for any trading action to be taken by an individual investor. Therefore, it is highly recommended that you do your due diligence before entering into a trade.