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A trader just dropped $1 million on Deribit, betting big on Bitcoin with a long straddle of 100 call and put contracts at a $66K strike price, expiring November 29.
For this to pay off, BTC’s gotta break above $87K or dip below $53K by the end of the month; otherwise, that premium's a goner.
With all the hype around November options, everyone’s bracing for action, especially with the U.S. presidential election on November 5.
Source: CoinDesk & Mario Nawfal #BTC #WeAreAllSatoshi
Legendary Analyst il Capo Shares Weekend Expectations for Bitcoin and Altcoins:
Legendary Analyst il Capo Shares Weekend Expectations for Bitcoin and Altcoins Cryptocurrency analyst il Capo has discussed the state of Bitcoin and the general crypto market in his new analysis.
Il Capo, who is generally known as a bearish analyst, has recently left this attitude behind and said that he believes BTC will experience a significant rise. The analyst has similar thoughts for altcoins.
In his latest post, il Capo discussed the current state of the market. According to the analyst, the fact that the Bitcoin price managed to reclaim $ 60,000 seems to be in favor of the bull. il Capo thinks that the current bullish confirmation is possible with the reclaiming of $ 69,000 and in addition to this, breaking above the descending channel on the chart. According to the analyst, if this happens, the structure formed by the low peaks will also be broken.
According to il Capo, as long as the BTC price continues to make higher lows from this level, altcoins could perform well.
il Capo defines the liquidity zone between $ 74,000 and $ 79,000. In his previous statements, he defined the liquidity zone between $ 58,000 and $ 60,000 and predicted that a rise could begin after a drop here. However, during the drop, the BTC price fell to $ 49,000.
I am 100% against holding a thousand different altcoins, and there are a few reasons for that. The most important is that you can't effectively monitor all of them at the same time. Most of them end up being hit or miss, or worse, pump and dump schemes.
What I prefer to do is hold maybe 2 or 3 altcoins that my analysis suggests could increase in price by at least 30-50%.
For example, I mostly hold $ETH ,$HBAR , SOL, and of course, the king—BTC. With a small number of coins, I can manage them quite easily.
With yesterday’s post, I said that BTC would reach $69,000, and it happened perfectly, as it has many times before. If you want to see for yourself, just visit my older posts. So, when people try to tell you that technical analysis doesn’t work, it’s because they have no idea what it is and will never know how to use it.
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BTC is gonna more down .It gonna touch to 58K or maybe more down to 56k.But strong resistence is around 58k ..If BTC maintains this level then its gonna up again. DYOR $BTC
What is market correction? How we started to misused the word! Price correction doesn’t mean that price will go down. But we see in crypto world people commonly mention correction when price going down. Which is a wrong practice! We know there are multiple exchanges, brokers and financial institutions. Trade happens everywhere. Now one coin may get 5% up in one exchange and 5% down in another exchange for a short period of time. It’s due to liquidity difference between two platform. Lemme give more real life example. Imagine you want to buy chocolate. You went to a market where people selling purest dark chocolate for 1$ a gram. On another market people selling chocolate for 0.8$. Now a news reporter went to the first market and found chocolate is trading at 1$. So he wrote a Facebook post that today chocolate price went 1$ a gram which is ATH. Another reporter commented there that he saw it’s trading 0.8$ a gram. Now the first reporter will correct the price and tell chocolate price is 0.9$ (after averaging). I know the example is not realistic, but as long as you understand the concept, it’s fine. If you check when STRK, the potential scam coin, launched on Binance, it went to near 7.9$, at the same time it was trading on Dex for 2.4$ and within a second it went to 5$ and then 4$ and then 3$ and then 2.4$. Then kept going down. Now when usually price correction happens? Ans. it keeps happening between platforms in every seconds, days and weeks. But we see much impact during week. Let’s give another example, let’s say my company bought 500 BTC from a miner at a average price of 65k. The deal took 7 days to happen. When the deal got realised the market price is already 70k. Once we announced the deal, the correction start to happen and the price fall dramatically within a day. So market correction is not necessary means a coin losing its value. But due to common aggressive behaviour of market, the price gets higher than the actual valuation, it’s hard to find a example, where the price increased after the correction. #Salid $BTC
As we know the whole crypto market is crashed due to BTC dump. But Solana is making resistenec against BTC dip.Why? This why cz Solana is attracting companies to make cooperation with it.And the interest is building .Companies are moving towards Solana thas the good sign.So the trend is Bullish soon you will ATH on Solana..Buy Some Solana at every dip. DYOR $SOL $BTC
So, while the whales dumping their holdings could have an adverse effect on the price, the performance of BTC in response to this flash crash shows that there is enough demand to meet this supply. In the case of Tuesday, the price would recover quickly to reach a new all-time high of $73,600.
At this time of this writing, the BTC price is still maintaining its hold on $73,000 with a 7-day increase of 10.49%.Resistence is across 65K. So be careful for your decisions.