Red line is a good support but we know that descending triangles are bearish. Often ends with a crash but also marks an important bottom.
So I don't know what would trigger it but a crash below the god line can mark the bottom. God line would probably be the resistance line in the next bull run. Or maybe they will just buy the support and start the bull run. Who knows?
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Oh this looks nice after a month, no?
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Some people are betting on FTX downfall rn. I guess i'm neutral on that one. But shorting such a powerful trendline is never a good idea. I know that.
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This was my desc. for this idea lol: "So I don't know what would trigger it but a crash below the god line can mark the bottom."
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And comparing FTT with Luna is plain stupid. I'd never put my money on an exchange if its CEO is publicly encouraging shorting the token of another exchange. If on top of that, that exchange invested in a stupid project like Luna? lol. I have no funds in both exchanges. I think crypto needs better CEO's really. I'd rather see them both gone at the end of this.
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wow.
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I believe we'll start to see countries targeting Binance soon. Because i think they should.
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Chart is ready to go into no man's land. Just a lil push needed.
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People think like Binance invented Bitcoin. Bitcoin is older and bigger than Binance. In fact, bad experiences with these exchanges might glorify the idea of decentralization. Maybe, in the future, people will use their regulated local exchanges to buy cryptocurrencies with fiat. Then they will trade or stake it on decentralized apps and exchanges. They will keep their long term investments on cold storages etc. This is a better future for crypto than tying its destiny to Binance.