$SOL Crashes, massive buying oppurtunity or more pain? | Syed Ehtisham Hussain on Binance Square

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Syed Ehtisham Hussain

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$SOL Crashes, massive buying oppurtunity or more pain?

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580

0

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Crypto is bleeding.

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WHY IS CRYPTO BLEEDING

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The recent downturn in the cryptocurrency market can be attributed to several key factors: 1. Major Exchange Hack: Three days ago, Bybit, the world's second-largest crypto exchange, suffered a significant security breach resulting in the theft of $1.5 billion. This incident shook investor confidence and highlighted vulnerabilities within major trading platforms, leading to a broader market sell-off. 2. Disappointment Over U.S. Crypto Reserve Details: President Donald Trump's announcement of a U.S. Crypto Reserve initially boosted market optimism. However, it was later revealed that the reserve would consist of cryptocurrencies already in federal possession through asset forfeiture, rather than new government acquisitions. This clarification dampened investor enthusiasm, contributing to price declines. 3. Broader Economic Concerns: Fears of a global trade war, sparked by President Trump's announcement of new tariffs on imports from Canada, Mexico, and China, have increased market volatility. Such economic uncertainties often lead investors to retreat from riskier assets, including cryptocurrencies. Collectively, these developments have led to heightened uncertainty and reduced confidence in the cryptocurrency market, resulting in the observed downturn.

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GM i'm longing $ETH looks bullish to me on daily time chart, NOTE: Manage your risk accordingly

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APT/USDT Here are a few trading strategies based on your chart: 1. Support and Resistance Trading Buy near support: If the price pulls back to a support level (e.g., around $5.80 or $6.00), you can look for a bounce to enter a long position. Sell near resistance: If the price approaches a resistance level (e.g., around $6.80 or $7.00), you can look for a rejection to enter a short position. 2. RSI Strategy Overbought & Oversold: Your RSI is around 62, meaning the asset is not yet overbought (above 70). If it moves into overbought territory, expect a possible pullback. Divergences: If the price forms higher highs while the RSI forms lower highs (bearish divergence), it could indicate a potential reversal. 3. Breakout Trading The chart shows a breakout from a previous resistance level around $6.40. If the breakout holds, the next target could be the next resistance zone ($6.80 - $7.00). Confirmation: A retest of the breakout level ($6.40) that holds as support can confirm the move. 4. Trend-Following Strategy If the price stays above moving averages (like EMA or SMA) or key support levels, look for buying opportunities. If the price starts making lower highs and lower lows, shift to a short-selling strategy.

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