Market news suggests that Zhao Changpeng (CZ) may be released from prison early (originally estimated to be released on September 29).

Previously, Zhao Changpeng was sentenced to four months in prison by a US federal court in April of this year for money laundering, and was imprisoned in California at the end of May. Despite no longer being involved in the operation of Binance, as the largest shareholder of Binance and an influential figure in the industry, his return is undoubtedly a major positive for BNB.

Currently, BNB is approaching its recent high point. According to the AICoin PRO signal, attention can be paid to:

• 615~620: Strong resistance zone, main force has been selling 6 large orders continuously for over 24 hours, with a total amount exceeding 13.95 million US dollars. If this range is broken through, BNB may surge to 650.

• 601~598: Strong support zone, BNB has encountered resistance in this range multiple times in the past 2 months, and the 45-minute cycle has EMA24/52 moving average support. If it falls below, pay attention to 580 (4H cycle, main force placing buy orders + EMA50 + Fibonacci retracement line).

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In the past 2 months, BNB has encountered resistance at 600 multiple times, but in the 45-minute custom cycle, RSI (6) has entered the overbought zone, and the trading volume has weakened during the upward trend, so be cautious of a double top formation. If it successfully breaks through the resistance zone in the future, it will likely usher in a strong uptrend, and the decisive battle is right in front of us!

According to AICoin's estimated liquidation chart data, if BNB breaks through 620, there will be over tens of millions of US dollars in short liquidation for Binance BNB/USDT perpetual contracts; if it retraces to 580, the strength of long liquidation will reach 16.49 million US dollars.

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Attachment: Timeline from Zhao Changpeng's indictment to release:

• 2023

March 27: The US Commodity Futures Trading Commission (CFTC) charged Binance and its CEO Zhao Changpeng (CZ) with violating trading and derivatives rules.

July 28: Binance and CZ's lawyers requested a US federal judge to dismiss the CFTC's lawsuit.

November 21: The US Department of Justice proposed a fine of over 4 billion US dollars to Binance to settle related criminal charges.

November 22: CZ resigned as Binance CEO, and Richard Teng took over. CZ posted 175 million US dollars in personal guarantees and was released.

November 24: CZ submitted documents to the court requesting to return to the UAE before the verdict.

November 28: A US federal judge temporarily prohibited CZ from leaving the United States.

December 7: A US district judge accepted CZ's guilty plea, and Binance agreed to pay 43 billion US dollars, including criminal and civil fines.

December 28: CZ requested a travel permit.

December 30: The US court again rejected CZ's request for a travel permit.

• ​​​​​​​2024

January 25: CZ proposed to use 45 billion US dollars of Binance equity as collateral, but was rejected by the judge.

February 21: The US Department of Justice filed a protective order motion to protect sensitive information in the lawsuit.

March 6: US authorities applied to modify CZ's bail conditions.

March 13: The US court modified CZ's bail conditions, requiring him to surrender his passport and stay in the United States.

April 24: CZ submitted a letter of apology and received 161 letters of plea.

April 29: The US Probation Office recommended a five-month probation for CZ.

May 1: CZ was sentenced to four months in prison.

September 29 (expected): CZ's release.

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