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The reason for Bitcoin's fall to $22,000 and its technical analysis
Almost a few months have passed since the bankruptcy and fall of the FTX exchange; However, developments related to this exchange, managers and users are still ongoing.
Recently, a very important news was published from the Wall Street Journal that "8.9 billion dollars of FTX exchange customer funds have disappeared and disappeared." This is the first time that the exchange has disclosed a figure related to the liquidity fund shortage.
In a court filing released on Thursday (March 2), FTX said it had identified about $2.7 billion in customer assets, compared to $11.6 billion in customer account balances. The estimated value of FTX's assets and liabilities will be calculated based on asset prices on the day the company filed for bankruptcy in early November 2022.
Alameda Research, an investment and cryptocurrency trading firm, had borrowed about $9.3 billion from customer accounts before FTX went bankrupt. Therefore, the current $8.9 billion hole can be attributed to Alameda Research. But FTX did not clarify whether the funds were borrowed with or without the customer's consent.
"Two hours after Watcher.Guru tweet was published, Bitcoin fell to $22,000 at 3:30 AM Tehran time."
Bitcoin technical analysis in 4 hours time frame
As we mentioned in the previous Bitcoin analysis on March 6; The first target of Bitcoin's fall ($22313) was the bottom of the FVG Daily area. When the price reaches this support area (22,300-22,000 dollars), we see doji candles in the blue circle; These doji candles represent the war between buyers and sellers. Considering the strong downward momentum that happened under the influence of the news two days ago, with the closing of the candle above the $23,566 level in the 4-hour time frame, we can expect higher prices for Bitcoin; But if this does not happen, this powerful support zone will also fail, and the next zone is in the support range of $21,512 to $20,400.
Note: the RSI indicator shows the number 31.25; So it has not yet entered the oversold zone.
The reason for Bitcoin's fall to $22,000 and its technical analysis
Almost a few months have passed since the bankruptcy and fall of the FTX exchange; However, developments related to this exchange, managers and users are still ongoing.
Recently, a very important news was published from the Wall Street Journal that "8.9 billion dollars of FTX exchange customer funds have disappeared and disappeared." This is the first time that the exchange has disclosed a figure related to the liquidity fund shortage.
In a court filing released on Thursday (March 2), FTX said it had identified about $2.7 billion in customer assets, compared to $11.6 billion in customer account balances. The estimated value of FTX's assets and liabilities will be calculated based on asset prices on the day the company filed for bankruptcy in early November 2022.
Alameda Research, an investment and cryptocurrency trading firm, had borrowed about $9.3 billion from customer accounts before FTX went bankrupt. Therefore, the current $8.9 billion hole can be attributed to Alameda Research. But FTX did not clarify whether the funds were borrowed with or without the customer's consent.
"Two hours after Watcher.Guru tweet was published, Bitcoin fell to $22,000 at 3:30 AM Tehran time."
Bitcoin technical analysis in 4 hours time frame
As we mentioned in the previous Bitcoin analysis on March 6; The first target of Bitcoin's fall ($22313) was the bottom of the FVG Daily area. When the price reaches this support area (22,300-22,000 dollars), we see doji candles in the blue circle; These doji candles represent the war between buyers and sellers. Considering the strong downward momentum that happened under the influence of the news two days ago, with the closing of the candle above the $23,566 level in the 4-hour time frame, we can expect higher prices for Bitcoin; But if this does not happen, this powerful support zone will also fail, and the next zone is in the support range of $21,512 to $20,400.
Note: the RSI indicator shows the number 31.25; So it has not yet entered the oversold zone.
