Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Trump Family X Accounts Hacked: On September 4, the X accounts of Lara and Tiffany Trump were hacked, leading to the posting of links to fraudulent crypto projects.

2. X Blocked in Brazil: Starlink, owned by Elon Musk, has complied with a Brazilian court order to block access to the social media platform X in Brazil.

3. 📈Technical Analysis Masterclass - Bitcoin is trading around $56,000, dipping down to $55,000 and breaking below a major support level at $57,000. Watch UseTheBitcoin’s latest Youtube video “CRYPTO CHAOS! Surviving the Bitcoin Meltdown” to prepare yourself for a possible bull trap or join our Official Telegram Channel for more alpha!

4. JustinSun-Pump 100% Buyback: Justin Sun, founder of Tron, has shifted the strategy for the SunPump meme token to a 100% on-chain buyback and burn process, replacing the previous plan for liquidity pool (LP) token burning.

5. 💡Feature of the Day - Gambaryan’s ‘Inhuman’ Treatment: A video showing the harsh treatment of Tigran Gambaryan, Binance’s head of crime compliance, has sparked outrage.

   
   All this and more in today’s headlines!

📰 News Highlights:

Trump Family X Accounts Hacked [Source][Source][Source][Source]

On September 4, the X accounts of Lara and Tiffany Trump, members of former President Donald Trump's family, were hacked, leading to the posting of links to fraudulent crypto projects.

The incident was quickly flagged by Trump’s decentralized finance (DeFi) project, World Liberty Financial, on its official Telegram group.

Users were urged to avoid interacting with any links from the compromised accounts until the issue was resolved.

The timing of these hacks is particularly sensitive, given Trump's ongoing campaign for the 2024 U.S. presidential election.

Nic Carter, a partner at Castle Island Ventures, warned that Trump’s DeFi project could be an attractive target for hackers aiming to undermine his campaign.

X Blocked in Brazil [Source][Source][Source]

Starlink, the satellite internet company owned by Elon Musk, has announced it will comply with a Brazilian court order to block access to the social media platform X in Brazil.

The decision comes after the Brazilian Supreme Court, led by Justice Alexandre de Moraes, ordered X to be suspended in the country due to Elon Musk’s refusal to appoint a legal representative for the platform’s operations in Brazil.

The ruling has sparked significant controversy, with Starlink claiming the order is "illegal" and a violation of the Brazilian constitution.

Despite these claims, Starlink has begun blocking access to X while pursuing legal avenues to challenge the court's decision.

The court has also imposed fines on X, amounting to over $3 million, for non-compliance.

 📈Technical Analysis Masterclass

CRYPTO CHAOS! Surviving the Bitcoin Meltdown

• Recent Warnings: Three weeks ago, we cautioned about the risks as Bitcoin approached $60,000, predicting a potential downturn to $52,000. This scenario is now unfolding.

• Bullish Divergence: Despite the drop, the 4-hour timeframe shows a bullish divergence. The RSI (Relative Strength Index) is in an uptrend while prices make lower lows, suggesting a potential trend reversal.

• Caution and Patience: A bullish divergence hints at a possible market rebound, but it doesn't guarantee immediate results. Patience and solid trade management are key during this period of uncertainty.

• Lack of Catalysts: The absence of strong fundamental news or events may prolong the current downtrend. A solid risk management strategy, including using a stop-loss, is essential if considering going long on Bitcoin.

• Potential Scenarios:

  • Short-Term Bounce: If the bullish divergence plays out, Bitcoin could bounce back to $57,000 or even $58,000.

  • Further Downtrend: If the downtrend continues, another test of the $52,000 support zone is possible.

• Strategic Waiting: For those preferring more confirmation, it’s wise to monitor key levels and wait for a breakout above $58,000 or a clear reversal pattern before entering a trade.

JustinSun-Pump 100% Buyback [Source][Source][Source][Source]

Justin Sun, founder of Tron, has announced a significant change in the SunPump meme token community's strategy, moving to a 100% on-chain buyback and burn process.

By implementing an on-chain buyback and burn, Sun aims to provide a more transparent and verifiable method for managing the token’s liquidity and value.

SunPump's recent success, including surpassing its Solana-based predecessor Pump.fun in daily revenue and activity, reflects the community's positive response to these changes.

💡 Feature of the Day: 

Gambaryan’s ‘Inhuman’ Treatment [Source][Source][Source]

A disturbing video showing the harsh treatment of Tigran Gambaryan, Binance’s head of crime compliance, has surfaced, prompting calls for his immediate release.

The video has sparked outrage, with Binance CEO Richard Teng condemning the "inhumane" conditions and demanding that Gambaryan be allowed to return home for medical treatment.

The video comes ahead of Gambaryan’s next court hearing on September 4, where the judge will consider his latest motion for bail.

Despite his deteriorating health, Nigerian authorities have opposed the bail request, arguing that Gambaryan does not require medical intervention, a claim contradicted by his health records.

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😂 Crypto Meme of the Day: 

And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com