Hackers Daily — Edition 6: Channel Test — Up to Resistance or Down to Support?

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BTC at neutral inflection. 100 day MA in play. RAVE scandal rocks crypto — 90% insider supply, $44M liquidated, three exchanges investigating.

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Good morning Hackers 👋

Edition 6 is here. BTC sits at $75,338 at a critical neutral zone inside the ascending 2H channel. The 100 day moving average is now in play for the first time in weeks. Up tests channel resistance at $78k. Down tests channel support at $72k–$73k. Monday’s volume will be the deciding factor.

Meanwhile the RAVE scandal is getting bigger by the hour — three major exchanges investigating, ZachXBT offering a $25K bounty, and 90% of supply was insider controlled. A reminder of why due diligence matters.

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🟡 MARKET SENTIMENT: NEUTRAL — WATCH THE CHANNEL

BTC: $75,338 | Fear & Greed: 27 — Fear | 100 Day MA: In Play | RAVE: $44M Liquidated

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📰 TODAY’S TOP STORIES

🔴 THE RAVE SCANDAL IS GETTING BIGGER — Credit: @coinbureau
Three major exchanges — Binance, Bitget and Gate — are officially investigating. ZachXBT called all three out by name, alleging insiders engineered a massive short squeeze. RAVE surged 10,383% in 30 days then crashed 85%. Insiders held 90%+ of supply.

🔴 RAVE: $44M LIQUIDATED, $25K BOUNTY OFFERED
Deployer wallets sent 18.58M RAVE to Bitget 10 hours before the rally. With 74% of Binance traders short, insiders drained liquidity triggering the squeeze from $0.27 to $27. ZachXBT offered a $25K whistleblower bounty.

🔵 BLACKROCK CLIENTS BUY $284M IN BITCOIN
Institutional capital continues flowing in as a geopolitical hedge. US spot BTC ETF complex on track for a third consecutive week of positive net inflows at $332M.

🔵 SEC CHARGES EXEC IN $16M CRYPTO FRAUD
The SEC filed charges for a $16M fraud involving “Bitcoin Latinum” — falsely marketed as an insured, asset-backed token. Funds were diverted to personal expenses.

🟢 RHODL RATIO SIGNALS CYCLE CORRECTION NOT LATE-STAGE TOP
On-chain data shows long-term holders regaining dominance. BTC climbed above its 100-day MA this week. Structure improving — bear market bottom signal hasn’t fired yet.

🟡 MICROSTRATEGY BUYS 17,585 BTC IN FIRST TWO WEEKS OF APRIL
Corporate treasury now holds 780,897 BTC — 3.8% of total supply — for $1.3B. The conviction buying continues.

🔵 US CONGRESSWOMAN BUYS $250,000 IN BITCOIN VIA BLACKROCK ETF
South Carolina Congresswoman Sheri Biggs disclosed one of the largest BTC purchases by a sitting member of Congress. Lawmakers gaining direct exposure to the sector they regulate.

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📈 BTC SCENARIOS — 2H CHANNEL

🔴 Down to support: Loses channel midline — drops to $72k–$73k channel support and 100 day MA.
🟡 Ranging: Stays mid-channel $74k–$76k — Monday volume decides the next move.
🟢 Up to resistance: Pushes to test channel top — clean break above $78k opens path to $80k.

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See you Monday morning for Edition 7.
— The Chart Hackers Team

Not financial advice.