Thoughts at noon on October 17

In the morning, there was a public reminder to look up from the low of 67300 to 67000, and the air situation responded by stepping back. After stopping the decline at the 67400 line, it began to fluctuate upward. At present, it has given nearly 500 points of long-range space to take. Friends who follow the idea can arrange the time to leave the market by themselves. ​​​

On the current market, the daily line shows signs of retracement, but it has not closed yet, which is not enough to support the judgment. The overall operation is still in the upward channel, and the bulls are dominant. The four-hour price ratio fell under pressure, with four consecutive small broken negative lines. The short-selling force is weak and the upward movement is blocked. The hourly price ratio fell below the middle track support, and the short-selling force has increased compared with the previous period. The technical indicators show that the short-term short-selling volume has not ended. In the short cycle, the price ratio remains in a narrow range. The air situation fluctuates rapidly. We treat it with a fluctuating mindset. We can go short at high levels and long at low levels, and mainly look at the bullish mindset. In the short term, we will see a wave of short positions continue, and then we will distribute oranges after stabilization.

Operation suggestions
Bitcoin 67200-67000 long, target around 68000
Ether 2620-2610 long, target around 2650#Meme浪潮持续，你看好哪一个？ #美国大选如何影响加密产业？ #BTC☀ #ETH🔥🔥🔥🔥

Just continue to follow the idea, no need to say more!!

If the current price is still in the floating profit, conservative investors can exit at the current price. #Meme浪潮持续，你看好哪一个？ #BTC能否站稳6W6 #BTC☀ #ETH🔥🔥🔥🔥

Thoughts on the morning of October 17

Overnight, Hangqing fluctuated little. The price rebounded to 68100 and then fell back slightly. The current price is running in the 67600 area. From the overall trend, Hangqing is still running around the bullish trend.

At present, the daily structure has closed positive again, and the trend is still relatively strong. Without the help of unexpected situations, it is difficult for the market to turn back. According to normal technical indicators, the bulls may continue. The daily bullish energy has not been fully released, and the technical indicators also tend to be bullish. Therefore, if the main structure is bullish, continue to look up. The top can focus on the upper track of the weekly line near 71000. There is no excessive retracement at the four-hour level to continue to be bullish. The retracement of the strong link is bullish.

Operation suggestions
Big cake 67300-67000 area is more, look at 68500-69000
Ether 2600-2580 area is more. Look at 2700 area$

Sui Foundation denies insider trading, but price takes hit

Insider trading allegations at Sui Foundation cause price drop despite recent gains.

Sui Foundation denies insider trading, claims redeemed tokens are from infrastructure partners.

TD Sequential indicator suggests SUI price could fall further.

Despite a strong 104% increase in the past month, SUI price remains under pressure following allegations of insider trading associated with Sui Foundation. Recent scrutiny intensified when crypto analyst @lightcrypto highlighted suspicious wallet activity, indicating that wallets associated with the foundation redeemed and transferred over 82.6 million SUI tokens, worth about $184 million.

Insider Trading: Is SUI Riding the Wave?

In response to the allegations, Sui Foundation addressed the situation on the X platform, saying no insiders (employees, founders, or investors associated with the foundation or Mysten Labs) sold $400 million worth of tokens during this price surge.

The foundation clarified that the redeemed tokens are likely to be pegged to infrastructure partners that follow existing lock-up periods. They also criticized @lightcrypto for not revealing the specific addresses of the alleged sale, warning that this lack of detail could lead to misinterpretations of the transaction.

SUI Market Analysis

Despite the foundation’s assurances, the price of SUI has fallen by 2% during the broader market rally. After hitting an all-time high of $2.34 on October 14, the currency’s value has been negatively impacted by the allegations. Market analysts including Ali Martinez are advising investors to proceed with caution.

Martinez noted that the TD Sequential indicator, a tool known for accurately predicting SUI price movements, is currently giving a sell signal. This analysis suggests that SUI could face further declines, with some analysts predicting a drop of up to 43%.

Increased Network Activity

Meanwhile, the Sui blockchain has seen an increase in network activity, largely due to the growing popularity of meme coin trading. This trend has led to increased platform engagement.

Dogecoin Holders Panic as Intel Markets Prepares for 3000% Appreciation; SUI Soars to Over $2

The cryptocurrency market has always been a highly speculative, volatile, and opportunity-filled environment. While older players like Dogecoin (DOGE) and the newer SUI have been in the news, now people are looking at Intel Markets (INTL), a potential AI-based platform that could grow 3000% in the future. With the Intel Markets project rising to become a controlling force, Dogecoin holders are at the limit of anxiety. On the other hand, SUI tokens are over $2, making it a coin to watch.

SUI: Over $2, Still Room to Rise

SUI, a new player in the crypto market, is one of those projects that has made the most progress in the market in a short period of time. Currently, the price of SUI has soared to $2.23, far higher than the initial price of $1.55 at the beginning of the year. Fast transaction speeds and low costs make this Layer-1 blockchain model not only decentralized but also competitive with Ethereum.

The rapid acceptance of SUI and the growing interest in Layer-1 decentralized applications (dApps) is seen as one of the factors for its success. SUI has become a major player in the game since the development of the industry and the desire of developers for an Ethereum alternative led to its growth. In addition, it is worth noting that a large number of stakeholders have taken a long-term investment approach to SUI, although it is still considered a speculative play.

A senior executive at blockchain company Ripple said the UAE’s regulatory approach to cryptocurrencies sets a benchmark for other countries and provides a competitive advantage, boosting investor confidence in the Middle East.

Reece Merrick, managing director of Ripple’s Middle East and Africa business, told The National on Wednesday that the UAE’s clear regulatory environment has enabled it to foster a business climate conducive to innovation compared to many other countries, including the United States.

“The UAE’s supportive regulatory environment has created a very attractive environment for blockchain development compared to other jurisdictions that have not yet begun to develop clear regulatory guidelines for the industry,” he said.

He added that the UAE is leading the way in the Middle East and that adoption of the technology is surging “significantly” on the back of an advanced government framework that supports innovative businesses. “The UAE’s regulatory framework for digital assets is focused on overseeing and facilitating the growth of the industry, not restricting it,” Mr Merrick said, speaking ahead of Ripple’s partnership with the Dubai International Financial Centre’s Innovation Hub.

The growth is driven by increased remittance flows and improved efficiency in cross-border trade. As a result, he said, digital payments and adoption by fintech companies are gaining traction.

The San Francisco-based blockchain company and the innovation center are working together to further the adoption of blockchain and cryptocurrencies by the latter startups and give them access to developers to help them position the technology in their operations.

“Continued advancements in regulatory frameworks for crypto cross-border payments will provide the necessary confidence for banks and other regulated entities to fully adopt this technology,” Mr. Merrick said, referring to Abu Dhabi Global Market, Dubai Financial Services Authority and Virtual Asset Regulatory Authority.

Reece Merrick, managing director of Middle East and Africa at Ripple. Photo: Ripple Merrick said Ripple’s users in the Middle East account for one-fifth of its global customer base. Ripple builds its products on the XRP Ledger and uses its native token, XRPL, to facilitate cross-border payments. XRP is ranked seventh by market capitalization, with a value of about $29 billion as of Wednesday, according to CoinMarketCap.

Ethena (ENA) has a market cap of $1.15 billion and its price has increased by nearly 50% in the past 7 days and has almost doubled in the past 30 days. Are you wondering if the altcoin can break the $0.50 mark this month?

Ethena (ENA) Price Analysis:

Currently, ENA price is $0.4195 with an intraday correction and a 24-hour loss of 7.36%. Moreover, the intraday candle has retreated by 1.93% after facing a rejection at the 24-hour high of $0.4627.

The altcoin has gained 7.35% in the past seven days and 17% in the past month. However, in the daily chart, the local resistance trendline remains dominant and inhibits the bullish growth. Despite a massive 16.38% surge in the price from the 7-day low of $135, the altcoin failed to breakout and rebound. The bullish failure led to a 1.78% drop yesterday and an intraday correction of 0.63%. Solana price is struggling to maintain dominance above $150 as the double bottom breakout rebound reverses from the upper trendline.

Solana price remains above the psychological $150 mark as Bitcoin price breaks above the $67,000 mark.

With a market cap of $72.15 billion, SOL continues to rise in price. Will Solana’s breakout above $150 lead to an explosive rise in Uptober? Learn more about our SOL price analysis below.

Solana (SOL) Price/Performance Rise 7.35% in the past 7 days and the altcoin is up 17% in the last month. However, on the daily chart, local resistance trendlines remain dominant and inhibit bullish growth.

Solana Price Chart Trading View Despite a massive 16.38% increase in price from the 7-day low of $135, the altcoin has failed to stage a breakout rally. The bullish failure resulted in a 1.78% drop yesterday and a 0.63% intraday correction.

Solana price is struggling to maintain dominance above the $150 mark as the double bottom breakout rally reverses from the upper trendline. Daily Active Addresses Reach ATH As SOL price recovers, the number of daily active addresses hit an all-time high of 4.61 million on October 14 and currently stands at 4.51 million.

As the Solana network expands, the growing demand will drive the price of SOL in DeFi and the broader crypto market.

Will Solana reach $200? Despite the short-term increase in price volatility, Solana's absorption in the 50-day moving average remains positively aligned with the 200-day moving average. Moreover, the bullish crossover of the MACD and signal lines is on a positive trajectory.

Therefore, Solana's technical indicators remain optimistic. With the breakout of the upper trendline during the broader recovery, SOL price may challenge the $186 resistance level and then the $201 mark.

On the other hand, a decline and extension of the pullback may challenge the $147 support level, followed by the 200-day moving average at $141.

Curious about the future of Solana? Read our Solana (SOL) price prediction for an overview of long-term goals!

How to be anti-human in trading? A must-read for retail investors!

Everyone knows that trading is anti-human, so what kind of human nature is it against? How should it be opposed? Lao Yu will talk to you through his own trading experience.

The vast majority of investors execute transactions based on their own feelings and emotions. For example, when it comes to taking profits and leaving the market, because there is profit, they are afraid of profit taking back, so most people choose to take profits. Taking profits is to eliminate the fear of this emotion of retail investors. For example, stop loss, the feeling of cutting meat is more painful than any pain in the world, so in order to avoid this pain, many retail investors choose not to stop losses, which is also the result of following emotions. For example, in the matter of fund management, position management is an extremely tedious and complicated project. To constantly adjust positions with the market, this requires great execution and patience. The most basic thing in human nature is to seek profit and avoid harm. Nowadays, people don’t even have the patience to watch a movie, so who has the patience to do position management?

Because trading is complicated and painful, and human nature itself hates complexity and pain. The real anti-human part is whether you can manage your emotions and feelings, and whether you can face every transaction calmly. The way is to have your own stable trading system and use a standardized system to understand our trading behavior. Every transaction we make should not be blind.

PEPE breakout appears imminent

The accumulation/distribution (A/D) indicator, which tracks whether traders are buying or selling, shows that PEPE is in a buying phase.

This is confirmed by the upward movement of the A/D line, indicating accumulation and bullish sentiment in the market. Such activity could drive the price towards the next target.

This trend is further supported by the relative strength index (RSI), which has begun to rise, indicating strong buyer strength. The RSI currently reads 59.41, indicating that buyers are gaining control, pushing PEPE into bullish territory.

A sharp drop in active addresses could hinder PEPE's breakout

According to data from IntoTheBlock, the number of active addresses (AA) interacting with the memecoin has dropped by 7.89% over the past week.

Realistic or not, here is the market cap of PEPE in terms of BTC

The AA indicator measures the involvement of traders in an asset, and despite the bullish trend, such a drop indicates a reduction in buying activity.

Dogecoin Holders Panic as Intel Markets Prepares for 3000% Appreciation; SUI Soars to Over $2

The cryptocurrency market has always been a highly speculative, volatile, and opportunity-filled environment. While older players like Dogecoin (DOGE) and the newer SUI have been in the news, now people are looking at Intel Markets (INTL), a potential AI-based platform that could grow 3000% in the future. With the Intel Markets project rising to become a controlling force, Dogecoin holders are at the limit of anxiety. On the other hand, SUI tokens are over $2, making it a coin to watch.

SUI: Over $2, Still Room to Rise

SUI, a new player in the crypto market, is one of those projects that has made the most progress in the market in a short period of time. Currently, the price of SUI has soared to $2.23, far higher than the initial price of $1.55 at the beginning of the year. Fast transaction speeds and low costs make this Layer-1 blockchain model not only decentralized but also competitive with Ethereum.

The rapid acceptance of SUI and the growing interest in Layer-1 decentralized applications (dApps) is seen as one of the factors for its success. SUI has become a major player in the game since the development of the industry and the desire of developers for an Ethereum alternative led to its growth. In addition, it is worth noting that a large number of stakeholders have taken a long-term investment approach to SUI, although it is still considered a speculative play.

October 16, 2024 The market is about to break through. The pressure of 65,000 points. I said yesterday that there might be a false breakthrough. After touching 67,000-68,000, there was a wave of decline. Last night, it just hit close to 68,000 and had a short-term decline. The lowest fell below 65,000, clearing a wave of short-term fomo bulls chasing the rise. I thought this trend meant that the pressure level of 65,000 failed to break through, but it slowly recovered today. This trend is a bit like the main rising wave market, and the previous sideways can also be interpreted as a wash. This wave of rise, in addition to the need for a breakthrough in the long-term sideways, the most direct reason is not unrelated to the US election. According to Polymarket's guessing data, Trump's winning rate is as high as 57.9%, leading his opponent Harris by 16 percentage points. According to this, it is basically stable, and according to polls, Trump has a slight advantage. In addition, we know that Musk is all in Trump this time. In addition to Trump's campaign speech's support for Bitcoin, and even his family has issued tokens, it is a good thing for the crypto market to see Trump coming to power. However, what is more uncomfortable is that this wave of market is basically just a solo dance of Bitcoin. After the altcoins generally followed the decline but not the rise, Bitcoin's market value accounted for 58%, which is close to 60%, which is relatively high in historical data. It can be said that the price of Bitcoin is in a bull market, but the overall market is still in a bear market. More importantly, the rise of Bitcoin is not like before, directly driving the altcoins to rise, and this market is not very healthy. Based on this, I have not followed the position, and even considered that if this wave goes up directly, it will be more than 70,000 points higher than Bitcoin before and then reduce 10-20%. The next US election, including the 1-2 months after the end, is the time period when market risk exposure is most exposed, and it is also the time when black swans are most likely to occur. In addition, the market is not very healthy, so I think it is still unnecessary to bet on a direct rise. Thank you for your attention and likes.

The altcoin has gained 7.35% in the past seven days and 17% in the past month. However, in the daily chart, the local resistance trendline remains dominant and inhibits the bullish growth. Despite a massive 16.38% surge in the price from the 7-day low of $135, the altcoin failed to breakout and rebound. The bullish failure led to a 1.78% drop yesterday and an intraday correction of 0.63%. Solana price is struggling to maintain dominance above $150 as the double bottom breakout rebound reverses from the upper trendline. #美国大选如何影响加密产业？

10.16 Evening Thoughts

From the current market, the long positions on the four-hour line continue to increase. Although there have been some pullbacks in the short term, the amplitude is small and is not enough to affect the trend direction. This short-term pullback can only be regarded as an adjustment after the rise, not a signal of trend reversal. The change of trend is usually accompanied by a large pullback or a continuous decline, but there is no such trend in the market at present. The low point of the small cycle continues to move up, and it seems to try to test the upper support level. We will keep the idea unchanged and go long when the pullback occurs. Pay attention to the existence of pressure points

Big cake 67500-67800 more, target near 68888.
Ether 2615-2600 more, target near 2680. #美国大选如何影响加密产业？ #BTC☀ #ETH🔥🔥🔥🔥

It's time to show off, no more pretense! Qingfeng just wants to hear your screams and experience the feeling of picking up oil! Dabing lets you rush in without thinking, did you rush in at 65,000? Is it the current price? Now it's 67,500, up 2,500 points. #美国大选如何影响加密产业？ #BTC☀ #ETH🔥🔥🔥🔥

Thoughts in the afternoon of October 16

The main resistance faced by the price of big cake is at 68,000, but its overall market trend is still dominated by the bulls, and the highs have been refreshed repeatedly. Although the market price has adjusted in the short term, it will eventually be able to quickly recover and stabilize without continuous decline. Analyzing from the daily K-line chart, the opening of the Bollinger Bands has shown an upward trend, which indicates that the market still has further potential for growth in the future.

In the four-hour chart, after the big sun pulled up, the price ratio also showed a relatively obvious range oscillation upward pattern. The trend did not give more retracements, and the Bollinger Bands kept running upward. The KDJ indicator in the attached figure was glued together and sorted. The short-term oscillation sentiment was relatively strong. At present, the market is in the stage of high-level sorting and repair, so the strong structure has not changed, and the general direction is still bullish!

Operation suggestion
Big cake 66600-66300 to take more, target 67500
Quiet synchronization is OK #美国大选如何影响加密产业？ #BTC☀ #ETH🔥🔥🔥🔥

$ORDI

Daily trend:

A small negative line with a long lower shadow, the trading volume increased by one third compared with the previous day, and a short-term top pattern appeared. The MA30 line remained upward, and the MACD momentum increased above the zero axis.

Overall trend:

Shock upward, no risk of a sharp drop in the short term.

Support level:

It is expected to fall and adjust in the short term, and the main support level is near the MA30 line (35.3), and the EMA52 line and MA120 line provide additional support. It is recommended to buy boldly when it falls back to the 33.5-35.3 area.

Ethereum is similar to SOL in structure. The market disagreement is nothing more than whether it will bottom out and reverse, or continue to oscillate in the bottom range, or decline and relay.
Before the reversal and relay are formed, neither of them needs to be considered.
So at present, only the possibility of continued oscillation is considered.

According to BlockBeats, on October 15, Seoul National University (also known as "Seoul National University") announced a suspension of cryptocurrency donations until stability and regulation are guaranteed. It is understood that this move was made after the game company Wemade promised to provide a startup fund with WEMIX tokens worth 1 billion won (about 737,000 US dollars) and caused controversy. #美国大选如何影响加密产业？