According to Bloomberg Terminal, Binance founder CZ has appeared in a Seattle court. US regulatory agencies have imposed a $4.3 billion fine on the world's largest cryptocurrency exchange Binance, and founder CZ has agreed to resign and plead guilty.

The shoe has dropped! Binance has reached a historic settlement with US regulatory agencies. This event has caused drastic fluctuations in the cryptocurrency circle in the short term, but in the long run, the settlement has positive implications for the development of Binance and the cryptocurrency circle as a whole. For Binance, the settlement has once again granted access to the world's largest cryptocurrency market. For the entire cryptocurrency circle, the settlement has finally removed a huge hidden danger for its development.

There has been a lot of news recently. In addition to the Binance incident, Bloomberg analyst James Seyffart stated on social media that Grayscale held a meeting with the SEC's Trading and Markets Division yesterday, and other potential Bitcoin spot ETF issuers, including Blackstone, have also met with the SEC in the past week. This further indicates that the approval for Bitcoin spot ETF listing is getting closer.

Setting aside the news and returning to the market situation, the sudden events have caused significant price fluctuations, making it unfriendly for futures trading. Yesterday, around 11 am, the community clearly indicated a short position for Bitcoin when the price was around $37,450, which appeared to be a 1-hour level secondary sell signal based on the Ichimoku structure. Once again, it shows that the Ichimoku structure provides a clear judgment on trend reversals, with sell signals appearing earlier than news events.

At the most severe drop near $35,700, this account believes and has notified that the previously reduced spot positions should be partially replenished.

Looking at the hourly chart, when the community called for a short position yesterday, it coincided with a secondary sell signal within the 1-hour structure. Before the appearance of three types of buy and sell signals at the hourly level, the current situation is still oscillating at the hourly level, and it is important to note that the current downward movement of the secondary sell signal is precisely the ninth segment of the central pivot. Therefore, as long as a secondary buy signal appears, buy first and then sell.

From a higher level perspective, it is highly probable that the upward segment on the daily chart has not yet been completed. After the appearance of a 4-hour central pivot, it will once again move upward and leave the 4-hour segment. Therefore, for spot operations, the pullback is a buying opportunity!

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