$KAS #KUCOINREFERRALCODEQBADCPPQ
With some variations, the bigger structure is the same. Marketwide action.

I already mentioned Ethereum many times but people are not very friendly with Ethereum lately so we will forget about that one. I am talking about supporting evidence that Bitcoin is likely to move lower.

The fact that Ethereum is already down in hell is one of such proofs/evidence, but as I said, we will ignore Ethereum and this leads to Kaspa.

We already had an amazing SHORT with this pair and I thank you for your support, but we are more interested now in price dynamics.

August was a major event and KASUSDT is already trading below August's low.
KASUSDT is trading at the same level it traded around 29-April, for Bitcoin this would mean 56K. 56K is an easy target to be honest.

Trading volume this week is the highest since 5-August. This means that the bearish move is not over.

If we consider the start of the bullish wave for Kaspa being May 2023, current price action is happening just below the 0.5 Fib. retracement level. The fact that the weekly session closed below this level and not above it is extremely bearish. Strong corrections tend to end below 0.786.

Kaspa grew 41,483% from a low in September 2022.
If we start counting from the October 2022 low, since the first day can be tricky, we would still have 15,893% total growth in a period of 651 days. It wouldn't be surprising to see an extended correction. Marketwide action.

👉 If Kaspa is set to continue lower Bitcoin is going lower.

Thank you for reading.

Namaste.

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$FTX
FTX's Shadow: Nishad Singh's Sentencing and FTT's Technical Outlook
The Fallout of FTX's Collapse
The collapse of FTX continues to ripple through the cryptocurrency industry. One key figure in this saga, Nishad Singh, former FTX chief engineer, is facing sentencing for his involvement in one of the largest financial frauds in U.S. history. Singh's cooperation with authorities, including asset recovery and information sharing, could potentially lead to a reduced sentence. However, the broader impact of FTX's collapse and its ongoing legal proceedings remains a significant concern for the crypto community.
Technical Analysis of FTT
FTT, the native token of FTX, has experienced significant volatility in the wake of the exchange's downfall. Currently trading within a declining trend channel, FTT appears to be consolidating between the $2 and $1.6 range. Key levels to watch include:
* Support: $1.48
* Resistance: $2.00
The Relative Strength Index (RSI) for FTT is currently at 44, suggesting a neutral to bearish sentiment. However, a potential break above the $2 resistance level could signal a bullish reversal.
Investor Sentiment and Potential Opportunities
While the overall sentiment surrounding FTX remains negative, some investors may see an opportunity to buy FTT at discounted prices. If Singh's cooperation leads to positive developments in the ongoing legal proceedings, it could potentially boost investor confidence and drive FTT's price higher.
However, it's important to exercise caution when investing in FTT. The future of the token remains uncertain, and the ongoing legal battles could have a significant impact on its value.
Key Takeaways:
* Nishad Singh's sentencing will be a key event for the FTX saga.
* FTT is currently trading within a declining trend channel.
* The $1.48 support level is a critical level to watch.
* A break above the $2 resistance could signal a bullish reversal.
* Investors should exercise caution and conduct thorough research before investing in FTT.
As the FTX saga unfolds, it's essential to stay updated on the latest developments and to make informed investment decisions.