Binance Hack: Bitcoin Drop Only 6%, Simon Stays Bearish

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Bitcoin dropped by just around 6%. Despite the biggest crypto heist in history, crypto exchange binance was hacked with approximately 6.3 billion dollars stolen. But is Bitcoin's relatively limited reaction a bully sign for the medium term? Or could a much bigger self be ahead?

Let's analyze the probabilities. Hello ladies and gentlemen, this is Salman from MyCryptoParadise, welcome back, it's great to be here, today is a Saturday and that means that you are watching the last video of this week, so before we will take a look at the well keel that we were tracking previously, we have seen his Bitcoin long position and if you are in PRO Paradiser membership You already know that he closed his

Bitcoin long position right before right before the Binance hack Exactly 28th of October. He closed it He closed his Bitcoin long position and right now you can clearly see that he turned short We will talk about that. We will talk about it, ladies and gentlemen But first I want to show you the similarities that the current Binance hack has with the hacks of by bit that happened back in February 2025 and

the technical similarities also with the third largest exchange hack all right that happened back in January 2018 as you know coin check was hacked by around 500 million dollars all right by bit there was around 1.5 billion dollars stolen nothing beats the Binance hack right and We will we will talk about however about the similarities of those hacks So first of all, I want to just share with you some key things.

All right We need to understand technically first of all percentage wise what happened All right And let's not discuss if you believe that it was an insider job hour if you if you believe Binance that like employ employer that their employees notebook was hacked.

Okay, I I will leave it up to you. I don't know what you believe what you don't believe it doesn't exactly matter All right. I'm just glad that with MyCryptoParadise and MyCryptoParadise We have moved our company funds And the funds of partisan VIP clients and also if you are tracking our MCP news Free telegram channel, you know that back in 2024 We have told you that something similar what happened previously with

the other exchanges will happen to Binance as well, so we have moved our funds out of Binance. We were actually called Binance Paradise. Our main channel was called not MyCryptoParadise 3, it was called Binance Paradise. Would you believe that? And we have renamed it back in 2024.

We were still called MyCryptoParadise, but we have renamed ourselves from Binance Paradise free all right that main channel into my crypto priorities free and here we have explained back in 2024 exactly why all right so we are saying because we are focusing on capital preservation and it's not only about the trading strategies and trading tactics we are doing but also how we are managing our funds right so you know that we

are trading on those funds if you're in partisan VIP you have the discounts on the fees these VIP links also give you discount fees on those exchanges for some limited time but the most important thing is that we are not trusting anyone all right we know the management team behind those exchanges so we are comfortable with having our trading capital there but we also diversify all right between multiple exchanges and our

holding holdings basically the rotation that we are doing inside of ParadiseFamilyVIP original membership inside of our heart wallets between Bitcoin USDT and bags G We are doing inside of heart wallets, right? So if you are in ParadiseFamilyVIP, you know exactly how we are doing it But the important stuff is the important key Understanding from this is that if it's not your case It's not your crypto and most of our crypto is

still inside of a heart wallets trading capital wise we are having mostly in this exchange and then we are also having distributed some of the capital between those exchanges so the key thing here is to avoid one point basically you shouldn't be put in all of your acts in one basket right as you are not doing it trading wise you are diversifying your risk between many trades between between many trading strategies

as you know we are having swing trading strategy day trading strategy in trading intraday trading strategy scalping strategy inside of partisan VIP that's also how we are separating the partisan VIP memberships you should not be also basically putting all your X in this kind of basket in one strategy or one trading tactic you should be diversifying that right that is also why ParadiseTeam is made out of multiple traders so we are

not stuck with one buyers of one trader we are not stuck with for one trading a tactic of one trader we are not stuck with one trading strategy of one trader as well and we are not stuck also with having to needing to trust only one exchange right or one hard wallet so avoiding this one point of failure right is extremely important all right so i do believe that you are safe

if you are a paradiser that is following us for multiple years since 2016 you have definitely seen the post in our MCP news free telegram channel back in 2024 where we have told you we are withdrawing everything, everything from Binance and we are not touching Bybit and Binance never again so we were safe from the Bybit hack we are safe from the Binance hack and we will also be safe from the

other hacks and those exchanges that we are that we are trading on have the minimal probability of being hacked and even if one will be hacked we will still not be affected because we are focusing on surviving the black swan events in terms of trade -in right when some there is going to be a big move to the upside or to the downside we will not go bankrupt if something like that

happened because we are always in terms of risk absolutely certain how much risk we have currently on the table right and in terms of some hacks some vulnerabilities in some systems we are also protected because we are focusing on the worst -case scenarios in our trading strategies and also in the crypto space in general so right now it's extremely important to understand the similarities all right so you know that the news

are not making the events alright the crypto would dump or pump without any news the news are just catalysts okay so my previous analysis was posted late because of my editor was sick all right got sick he had some kind of accident so unfortunately I needed to do this myself right now we are in a in we are looking for a new editor but even even if if no news would happen

all right my analysis would still be valid all right because we are working with the behind the scenes data we are worth working of record with recognition of patterns market structure liquidity etc and no news can affect that all right so right now you're crypto going down, it would go down anyway, right?

That is also why with parallelism VIPs we have been already distributing back the Bitcoin at that 79,000 dollars, right? Because it was technically the right thing to do, right? And a lot of people told me look the Bitcoin is already at 87 and I'm like well it can pump towards 99,000 dollars.

Who cares? I'm just following my system all right that is having over the years a higher odds of winning than losing so if I will be consistently following that with discipline over and over again over the long run I will make money right so I don't care then I don't need to be emotional and needs to be fear of missing out like oh my god let's let let me buy that at

resistance I've missed few thousands on that no I'm just structure changes, right? So as we know, the 10 % chances that this will be reclaimed, this 0.618 figure out your choice meant level and we will start going into price discovery mode. But like until that happens, we have basically, you know that since 121,000 dollars, we have sold most of our Bitcoin, right?

Most of our Bitcoin right here already, that was before the buybit crash, all right? and a lot of people told me again right wrote us emails multiple emails like you are selling the bottom we were selling like on on the reclaim of this ending diagonal so we have recognized and again it's just technical analysis right so we have recognized that this is the fifth wave of our impulse right so the same

way we have been buying we have been buying right here and calling for a boot rent right here right we were just focusing on the waves and then we have hold right here. Okay? Shoot in star, reclaim of the ending diagonal, five sub waves in the ending diagonal, we sold.

And the crypto would go down anyway even without the buy -bid hack. And this is right now what I'm trying to explain to you. Okay? The buy -bid hack is just a catalyst. And right now, and the Binance hack is right now a catalyst also, it doesn't matter.

All right? What the news is it doesn't matter in the short run it can affect the price action but in the long run it doesn't matter all right so as you can see in the short run like the probability swear that either we will start pushing towards ninety thousand dollars or that we will we will touch that that lower boundary of this previously support zone right now it's a neutral zone I

will explain and then Then we will start pushing to the upside. Right now, as you can see from the short term perspective, yes, the buy -bid hack affected the price action, right? Probably we wouldn't have such a movement in the short run without the news.

But again, the news is a catalyst, alright? Nothing else. It's not making the price action, alright? It's not making the market. It's just a catalyst, alright? so it basically created the move that would happen anyway but but later so we have crashed earlier without any push to the upside does it mean that right now we cannot recover above this zone well no we can right but with parallelism VIPs we are save

we have for example take a look at this alright so again hype alt We have taken target one right here and right here. We have almost hit a stop -loss But because we are focusing on the technical Technical stuff of the market on the liquidity pools what's going on behind the scenes where are the buy walls?

Where are the sell walls what the whales are doing? We knew that there is much higher probability that before we will go lower, right? We will need to take this liquidity pool at ninety six dollars on hype and without the news Alright, without the news of Binance being hacked, we would probably go even higher.

Alright, but mostly because we are focusing on capital preservation in MyCryptoParadise for us is important that we have secured our trade, we have taken profit, secured our trade with stop -loss to break even, alright, and then we don't care about anything else, right?

Then Bitcoin can pump, dump, we don't care, we are just focusing on the system, alright? So this is exactly the same thing that I have told you in the previous video. It's not only about the buyers It's all like if market gonna go up or down It's also about where you place your stop loss and exit targets and that needs to be counting with the noise Right.

So here you can see like the market can be noisy It can be noisy But if you have a great stop -loss, right, the big the real move will happen without you being stopped A great stop -loss is such a stop -loss that if you hit the stop -loss the market Changes and the next big move is going to be that it outside.

All right, so that's why Having a proper stop -loss and exit targets is so important, right? So take a look at this So after we have taken target one on our hype position the market went down right but did it well did the market went down because because of the buying and snooze no it went down because it hit some important liquidity on Bitcoin and altcoins as well and then the path

of least resistance was in an opposite direction of course it probably wouldn't be that fast all right it probably wouldn't be that fast but it would move down anyway okay right now as you can see it's not hitting our stop -loss which is at breakeven again because the technical stuff how we are entering and exiting the trades right so a proper signal is the signal that well if your level is hit

important level entry stop loss or exit target right if it's hit it will continue in that in that direction right so as you can see from the altcoin perspective we are right now above important supports. And from Bitcoin perspective, we are right now in a very important decision point.

Because what I have told you previously, first of all, if you start reclaiming this previously support into a resistance, there will be a very high probability that we will start attacking the top of the first wave. The top of the first wave was exactly right here.

as you can see the price section went precisely towards the top of the first wave this is the second and even though if you will go in the price territory of the first and secondary wave so until here until 70 until 75 000 the market structure is still bullish right so even though right now it's much lower probability much lower probability of uh going uh of recovering towards that $90,000 before the

next big move, the probabilities are still higher, given that we are still in the bullish market structure until we can break the bullish Bitcoin market structure. So am I along right now? No. Do I plan to go short? Probably yes. upon more confirmations of breaking this bullish structure alright and having a clear confirmation that this zone like first high probability points will give me like the the next high probability points will

appear once this zone is confirmed to be reclaimed so as you can see it previously worked perfectly as a support right here and right here right now after breaking below that zone it's working as a resistance from the volume perspective it's actually quite bearish because you can see the volume the selling volume is right now much basically it was increasing the selling volume was increasing on the price action going down right

and right now on the price action trying to break back above this zone the volume is declining so the bulls are not very strong they are actually quite weak at this moment and we can really put them the reason why to the sentiment that is right now going on around the market and the sentiment is not really bullish or bearish but uncertainty, uncertainty, uncertainty, okay?

That's the sentiment right now and during uncertain times you are not going to be pressing heavily the buy button or the sell button, right? You are trying to stay sideways and see what's gonna happen. So when we have a lot of wars In a like in the world is the same thing, right?

You don't know what's gonna happen. So you are not gonna be spending so much money. That's happening right now we have wars right and People are in a state of uncertainty. So they are not spending their money people have money But they are not willing to spend them and risk them because they they don't know what's gonna happen tomorrow, right?

They don't know what's gonna happen tomorrow, and that is also why the global economy is right now So slow because people are in a phase of uncertain uncertainty and the same thing happens In trading as well when there is time of uncertainty people basically rather do nothing than Then something right they are trying to they are trying to be safe, so let's right now go back and take a look what are

the similarities with the buy bid hack and with the coin check hack as well okay so buy bid hack happened exactly february 2025 where it happened it happened precisely where we were close to our move and average trend line all right and a lot of people called for this being a bottom okay what's happening right now people are calling for this being a bottom and the Binance hack happened while we were

close to moving average trendline that is also why you don't see such a big crash right that's also why the Bitcoin crashed only by around 6 % the same way happened after a biped hack and let's take a look at the coin check hat hack that was 500 million dollars stolen.

And when it happened, ladies and gentlemen, it happened exactly. Right here you have it, 26th of January 2018. Where it happened, take a look at this. God damn it, look, take a look at this, right when we were above our moving very strength line.

And if you take a look at the sentiment, a lot of people thought that this was already the bottom. So technically this is extremely extremely similar all right extremely similar the MT Gox also happened at a similar at the similar technical market structure level so that's also why you're seeing such a big crash every time right afterwards you see only around few percent right so coin check that was around 7 %

but we need to understand the crypto back then was even lower liquidity than it is right now. By bit only 3.5 % all right. Binance around 4 to 6 % all right. So it's the reason why because it happened close to very important support level all right.

And from the weekly timeframe perspective this moon average trend line is very very important demand zone that is also why we are seeing a lot of a lot of bibles below us right because this is technically a very important level ladies and gentlemen so right now we need to understand however what happened afterwards right after those hacks all right within three days you can you can within three to five days minus

seven percent within seven days minus 20 during the biped hack minus 30 coin check hack within one month minus 22 minus 46 for the coin check within three months minus 24 minus 46 and that was then afterwards at the macro bottom okay so you know that since since Bitcoin being below that 121 thousand dollars we are still extremely bearish on Bitcoin we do predict that Bitcoin will push towards 44 thousand dollars

before we will be able to push towards the new all -time high and that is also the reason why of partisan VIPs we have done some we have been distributing our bitcoins right here and right here right and then we have done some aggressive re -accumulation at $71,000 and $61,000 and you remember that then we were selling most of it tactically at $79,000 right seventy nine thousand dollars and I'm still I'm

still not really reaccumulate them back because I've told you the scenarios right the probabilities from the market makers perspective it's much better to push the price here here we gonna have the exchange of the hand zone as we have got it back in 2022 right here and during the all of the macro bottom macro bottom formations you know from that net analyze and profit chart that we need to go through the

exchange of the hands right there needs to be forced selling below the zero capitulation number on the other side there will be the smart money absorbing that selling pressure right and that's afterwards the price action slows down right from from creating big lower lows right and that's how the exchange of the hand zone happens, the the smart money absorbed the forced selling of the dump money and that's every single time how

since 2011 the macro bottom has been created and you know i'm telling you all the time in 2026 right now during our bear markets that happened that started in 2025 we have not created the environment for the macro bottom to be created so I don't believe frankly a lot of people think this was the macro bottom you know that I don't believe that okay and that is also why with partisan VIPs

we have tactically redistributed that back into USDT we are still holding mostly USDT until we have a clear confirmation that at the market makers and the smart money are re -accumulated back, okay. So ladies and gentlemen, you know exactly what we are watching on the weekly timeframe, on the daily timeframe.

Also, if it was an insider job or not, you need to understand that right now still the hackers they are holding around 1.41 billion dollars worth of Bitcoin, okay. They cannot transfer it into USDT or USDC because that would be frozen but they can put it into DAI, right?

DAI is the stablecoin that has no possibility of freeze your funds so they can, given that they probably understand the market cycles and how the market is performing, the cycles, right? They probably know that the market with DAI is probably going to crash.

They want to transfer it into some stablecoins to keep their value, right? And given that we have seen that they're already transferring a lot of money to Ethereum and if the DAI is on Ethereum chain it's very easy. It's very easy to just transfer it to DAI, right?

Which is like your stablecoin holding the value. So that will create obviously an extra an extra selling pressure, right? So I would be careful right now with some aggressive bullish trading tactics all right on the medium time frames and lower time frames so unless we can for me i would start pushing some buy button i was i would start playing with bullish trading tactics only on the confirmation that we can reclaim

and the bulls can take over back this zone this is right now a neutral zone but as you can see the bulls are not really willing to push the buy button right now as we have talked about in the times of uncertainty they are not willing to risk much right which is pushing which is basically creating the bearish scenario right now much more likely but right now on the lower time frames

I am in waiting zone as well I want to see some high probability moments but the structure the bullish structure is still holding right 1 2 3 4 still can be this still can be a fourth wave but for the fifth wave for me to create some high probability of happening all right before we will see the big rejection right I would I would first need to see the first wave of

that hard degree fifth wave to happen and push above this zone then the secondary corrective moon wave retest in this zone as a support again and that would be my entry I would place it nicely with very close hard stop loss it's possible because of the market structure so a great risk of art might be possible and I would be playing the push towards that ninety thousand dollars right so until it's

broken the market structure there is still quite a high probability that we can push towards ninety thousand right so from the medium time frame perspective I'm not completely invalidating the bullish the bullish scenario but from the higher degree perspectives you know that even on the daily time frame I have told you I'm not playing with bullish trading tactics and on the medium time frames and lower time frames me personally I would

need to get a lot of confirmations before I would start to okay and on the weekly time frame you know that I am I'm bearish still since the the higher levels alright so daily time frame I'm telling you that from multiple videos already multiple videos and multiple videos I've taught you in the past months that I've basically taught you already here right 79,000 hours and I will turn bearish again from 61,000

hours to 79,000 hours and I will turn bearish on the daily time frame on the on the lower time frames the medium still I'm focusing more on bullish trading tactics right I'm still not focusing on bearish trading tactics here but again as I've told you in the previous video a lot of confirmations is needed for me and I've yet not seen the first proper impulse and the corrective move wave secondary wave

structure that will truly allow me to get into some nice high probable long position at least for me I cannot speak for every trader that is in ParadiseTeam but at least for me I'm really waiting for much higher probability on the medium and lower time frames to get to get into some long position but I'm focusing on bullish trading tactics but the confirmations I need to see big ones for me to

push the buy button all right so right now ladies and gentlemen watch the important levels definitely the top of the first wave crucial one if you will start pushing into that the last the last important level will be $74,900 basically you can round it to $75,000 whereas if we start losing that one i'm gonna start looking into bearish trading tactics on and on any recovery upside recovery i would be treating that

as a high bearish trading probably all right so ladies and gentlemen i will keep you updated again on tuesday i hope this helped all right i hope that you are safe that you are not trading on binance and that You are saved from the market volatility and I will see you again on Tuesday.

Until then take care. Cheers