Hi Traders,
Lets discuss FTX/Binance drama of late.
- yes Alameda is an extented arm from FTX for shady manipulation and money making.
- Yes CZ has committed to dropping all FTT reserves
BUT
BANKMAN is still a big player.
CZ did not say how much FTT they have left to dump as it was also noted they have been selling for sometime.
IMPORTANTLY - CZ said this will take place over the next 6 months inorder to note impact markets in a dramatic fashion.
I am of the opinion Sam will be forced to buy back the tokens to keep FTX stable, also when retail are panic selling/shorting FTT we can make the reasonable assumption they will not win against the MM(s).
It is more likely FTT gets pumped from the $20 price point by FTX given the short liquidity will be attractive and also its in there interest to maintain price stability.
We should note the most important factor being CZ does not likely have ALOT of FTT left and is dropping them over months not this day.
FTX will likely mark up FTT inorder to take back coins from the market and also the heavy shorting bias.
LONG TRADE
ENTRY zone 20.4 - 19.7
SL 19.2
Price may hold the $22 line but i suspect we dip slightly first.
Goodluck,
Assetmastery
Lets discuss FTX/Binance drama of late.
- yes Alameda is an extented arm from FTX for shady manipulation and money making.
- Yes CZ has committed to dropping all FTT reserves
BUT
BANKMAN is still a big player.
CZ did not say how much FTT they have left to dump as it was also noted they have been selling for sometime.
IMPORTANTLY - CZ said this will take place over the next 6 months inorder to note impact markets in a dramatic fashion.
I am of the opinion Sam will be forced to buy back the tokens to keep FTX stable, also when retail are panic selling/shorting FTT we can make the reasonable assumption they will not win against the MM(s).
It is more likely FTT gets pumped from the $20 price point by FTX given the short liquidity will be attractive and also its in there interest to maintain price stability.
We should note the most important factor being CZ does not likely have ALOT of FTT left and is dropping them over months not this day.
FTX will likely mark up FTT inorder to take back coins from the market and also the heavy shorting bias.
LONG TRADE
ENTRY zone 20.4 - 19.7
SL 19.2
Price may hold the $22 line but i suspect we dip slightly first.
Goodluck,
Assetmastery