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Bitdao

BIT BitDAO Price Target after Court approves FTX LiquidationGiven the recent developments in the crypto space, there are several factors that point towards a bearish outlook: FTX Liquidation of $3.4 Billion in Crypto Assets: The approval by the Delaware Bankruptcy Court for FTX to liquidate $3.4 billion in crypto assets is a significant event. This influx of a substantial amount of cryptocurrency into the market could potentially lead to an oversupply situation. When a large amount of assets is dumped into the market at once, it can put downward pressure on prices. Limited Sales in the First Week: The imposed limit of $50 million for the first week indicates a controlled release of these assets. This may imply that FTX anticipates potential market disruption if a large volume is sold at once. However, even with controlled release, the market could still experience downward pressure. Potential for Increased Limits: The provision for increasing the limit with the approval of the creditors’ committee and ad hoc committee, or potentially even up to $200 million weekly with court approval, shows that there's room for further selling pressure in the coming weeks. Binance US CEO Resignation: The resignation of Binance US President and CEO, Brian Shroder, could potentially signal internal challenges within the exchange. Leadership changes in major crypto exchanges can lead to uncertainty and can impact market sentiment. Asset List: The assets listed for liquidation include some of the major cryptocurrencies in the market such as Bitcoin, Ethereum, WBTC, WETH, USDT, SOL, XRP, STG, APT, BIT, DOGE, MATIC, FTT, TON and more. If a significant portion of these assets are sold off, it could have a widespread impact on the market. Market Sentiment and Confidence: These events combined might lead to a loss of confidence in the crypto market, especially if investors perceive them as signs of instability or potential oversupply. Regulatory Considerations: The fact that a bankruptcy court is involved in this process highlights the regulatory environment surrounding cryptocurrencies. Heightened regulatory scrutiny or intervention can have a dampening effect on the market. Considering the above, my Price Target for BIT BitDAO is $0.32. Looking forward to read your opinion about it.
BShort
by TopgOptions
BIT is ready for the next upwards move!Hey guys, a small and easy update on BIT. The primary trend was till beginning of januari downwards. After that we saw a great rally. So whats next? - The price is moving above the 200 EMA. That could act as support. - After weeks we finally broke the 0,60 resistance. - We could see higher levels when we break 0,65. - Volume is decreasing what indicates for a big move in the upcoming weeks. Do you like my update? Give me a like and follow me to be updated! Happy trading!
BLong
by KennyCryptoNL
✴️ BitDAO Moves Ahead | Why This Is Good News!BitDAO (BITUSDT) has the same chart as other altcoins and is also following the same patterns... A low hit late December, a strong crash in early November, relief rally in August, etc. Now, BitDAO is moving ahead. It is already trading above EMA50 and even EMA100... Since the altcoins move together... Since BitDAO is going through the same pattern as other altcoins... We can take this one as a signal as to what is coming to the rest of the markets. Expect our altcoins that we are tracking to break first above EMA50 with minor retrace and then continue straight up above EMA100 and more... Just as you see here. Of course, you can expect some retrace for BITUSDT followed by additional growth. Namaste.
BLong
by MasterAnanda
2
BIT - Great buying timing here!BYBIT:BITUSDT 4H trend chart - BIT is breaking out the long-term downtrend line, also overcoming the neckline of double bottom. So we can buy it here with trading strategy as below. - Profit Targets: a) 1.262~1.280-----Fib(1.272~1.382) b) 1307-----Fib(1.618) c) 1.350-----Fib(2) Stop losses: a) 1.153-----Red horizontal ray - If you like this analysis, smash the "like button" and leave a comment below to share your thoughts or let me know what crypto you want to see! Trading is a reflection of yourself. Learn more daily and be ready for every opportunity. Have a nice trading!
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by EthanTW
$BIT #BITUSD Another incoming leg down.Bit seems like wants to repeat the pattern which it did last 3 times , with breaking the raising support line. On Average after we break this key area , we got a 25-30% move to the downside. From moving average perspective BIT was rejected by EMA 55 once again. On the daily RSI we can see that Hidden Bearish Diverge is forming once again. On the daily MACD we can see a crossover to the downside will occur as soon as today. I can offer very little hopium as it will be if we reclaim the 1.40$ thus making a new higher high. Interested to see your toughs and opinions in the comment section, thanks.
BShort
by Whispofearth
BIT - New entry timing and TargetsBYBIT:BITUSDT 1H trend chart - BIT already hit our 1st TP from my last idea. Congrats if you're following it. - You can hold the rest to until hitting other TPs and can move SL upper if you want. Now, 1H trend is forming a potential cup and handle, and here is the buying timing, so I'm going to provide another strategy as below. - Profit Targets: a) 1.693----Fib(1) b) 1.704~1.709----Fib(1.272~1.382) c) 1.719----Fib(1.618) d) 1.735----Fib(2) Stop losses: a) 1.664----Red horizontal ray - If you like this analysis, smash the "like button" and leave a comment below to share your thoughts or let me know what crypto you want to see! Trading is a reflection of yourself. Learn more daily and be ready for every opportunity. Have a nice trading!
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by EthanTW
BIT- is converging and expected targetsBYBIT:BITUSDT 4H trend chart - BIT is squeezing in a triangle, and our resistance is the downtrend line. On the other hand, price is getting support from the uptrend line. So, if BIT can overcome the downtrend line, we can do long with strategy as below. - Profit Targets: a) 1.662----Fib(1) b) 1.731~1.785----Fib(1.272~1.382) c) 1.914----Fib(2) Stop losses: a) Set is at the lowest point of this triangle - If you like this analysis, smash the "like button" and leave a comment below to share your thoughts or let me know what crypto you want to see! Trading is a reflection of yourself. Learn more daily and be ready for every opportunity. Have a nice trading!
BLong
by EthanTW
BIT, price is going to break this supportBIT is in a trading range between the $1.75 and $2.1 levels. Many participants are accumulating their positions in this area. And most of the stop losses are below this zone. Big players can adjust the price below this zone and collect liquidity below it. On the chart, it is worth highlighting the trend line, which acts as support. If the trend line breaks, there could be a good opportunity to sell. Write in the comments all your questions and instruments analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade.
BShort
by Yuriy_Bishko
7
BIT - two possible scenarios!The market has fallen very hard, with the BIT coin falling below its listing price. I don't think many people expected such a drop. Now on every drop there is a volume at the bottom, that is a good signal, a liquidation signal. In case of a false breakout of $1.57 or a breakout of the trend line, this could be a good buying opportunity. Write in the comments all your questions and instruments analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade.
BLong
by Yuriy_Bishko
3
BIT - Coin that will give you x10 🚀🚀In this idea we would like to share with you a coin that has a potential of more than 1000%. The name of this coin is BIT. One of the top exchanges BYBIT is one of the biggest holders of this coin and is now starting to use it on its platform to participate in various programs, for example - lunchpad, you need to be a BIT coin holder to participate in this program. In order to understand the potential of this coin, we would like to take as an example a coin from the most famous binance exchange, in the last year and a half BNB has grown from $10 to $600 per coin. Therefore, it is worth to pay attention to it. From the technical analysis side, the price collected liquidity below the support zone and now trying to break the trend line, this is a good signal for growth, and in the near future the price might reach the levels of 2.8$ - 3$ - 3.5$. Personally, we keep this coin on the spot and our medium term target is $10 - $20.
BLong
by AlexWhale
1