BTC is soaring. A few days ago, there was a big pillar, from 62k to 66k. BTC falsified the doji and continued to surge forward, reaching 68k. It is currently trading sideways above 67k!
In the past 24 hours, the entire network has liquidated $125 million
Amid the volatile market of Bitcoin, over the past 24 hours, the total amount of cryptocurrency liquidations exceeded $125 million, and nearly 47,000 people were liquidated.
Crazy Thursday Many or Empty
The battle between long and short Bitcoin is about to start. The fear and greed index has reached 71, with a strong bullish sentiment. The funding rate is 0.01%, and the long funds are greater than the short funds. Currently, Bitcoin is still sucking blood, the exchange balance has not changed much, and the trend is healthy. Funds are withdrawing from altcoins. The US spot Bitcoin ETF had a net inflow of US$452 million yesterday, which is a sign before the start of the bull market. It takes a lot of funds to increase Bitcoin, and altcoins will also intervene. After Bitcoin reaches a certain height, funds will flow out to increase altcoins.
Today's market analysis:
BTC daily rising flag has broken through, 4-hour level shrinking decline continues to be bullish, 4-hour no bottom divergence, 12-hour daily level, level is rising. What reason do you have to talk to me about the callback! Intraday pressure level is 69300, support level is 66300 US dollars. BTC66748, 66083 long, stop loss 65774, target 68124.
ETH ETF had a net inflow of 24.21 million USD yesterday. The volume increased in the past 15 minutes but it was not sustained. It was mainly consolidation in 4 hours. The exchange rate of ETH diverged from the bottom in 4 hours. I really hope that ETH will make up for the rise. I can only place an order at the bottom of the box. ETH2598, 2567 long, stop loss 2553, target 2671.
The eth/btc exchange rate rebounded after a 4-hour bottom divergence, and the daily line has already had a double bottom divergence. Ethereum has really been in a slump in recent months.
The exchange rate has hit the bottom, which means the altcoin season has begun, and altcoins will recover!
Talking about transactions without considering the context is just being a hooligan. What kind of context are we in now?
1. The initial stage of the economic cycle shifting from contraction to easing;
2. Bitcoin has been trading sideways for 7 months;
This background tells us two things: the first is that the external environment will get better and better, and the second is that the market has been sideways for a long enough time. If it lasts long enough, there is a possibility of choosing a direction. It does not necessarily have to fall, but it may also fall or rise. After all, it is only the initial stage of easing. I still maintain the views expressed in August and September, and the cryptocurrency market will continue to be bullish in October, November, and December!
In 2024, the year of this cycle, BTC will play a one-man show. Many leading altcoins and so-called value coins that were highly expected have performed poorly compared to BTC, making bettors regret their decision. All these trends seem to indicate that the market value is returning to BTC and the moment of "big breakthrough" is approaching. When the "big breakthrough" comes, BTC may repeat its early violent growth.
Will the spot be fully stocked by the end of October? How to layout the altcoins? Is there still a chance for the inscription track?
First, BTC fluctuates between 66K and 68K, while sucking blood from altcoins, and its market share reaches 595, which is a healthy trend;
1. Will the spot be fully stocked by the end of October?
If you start regular investment now, you will have a full position in spot by October 31st; if the U.S. stock market pulls back with BTC, it will give you a chance to make a fortune; just wait for the main upward trend in November and December!
2. How to layout altcoins?
Suggestions based on several rounds of bull and bear market experience: 50% BTC, 30% ETH SOL BNB, and 20% other popular track altcoins; popular tracks include top Meme coins, AI tracks, and BRC20 can also be deployed; buy less altcoins that are not listed on Binance;
3. Is there still a chance in the Inscription track?
Since 2022, there has been no major innovation in the cryptocurrency circle. BRC20 inscriptions are one of the few new products with certain innovation. The bottom has been fluctuating for more than half a year. There is room for speculation and there should be another five-wave rise. I am optimistic about the three inscriptions, ORDI, SATS, and RATS.
4. Lay flat on the main line BTC, chase ETH, and switch to NEIRO
Why do this? The premise is that you are tired of volatility and short-term trading. People's thinking is inertial. If you do short-term trading every day, staring at the hourly K, 15-minute K, or even minute K to make orders; I tell you, if there is a big market, hold on and don't move, can you do it?
The night before yesterday, a 1-hour big negative K-line reversed into a positive line. Is it scary? I will reassure you in real time. The blood is flowing like a river! After Bitcoin climbed to 680,000, it fell below 650,000, and more than 100,000 people were liquidated for 300 million US dollars! Who issued the BTC meme? If you eat it, it will be safe, and you will make money now! But some people don't listen. They are useless and can't even pick up money!!!
Trading has nothing to do with dog dealers, group members, or...it has nothing to do with...it only has to do with yourself. Trading is about cultivating your own mentality, emotions, and habits to match them with the current market trends. If they match, you can make money, if they don't match, you will lose money, it's that simple.
Opportunities always come to those who are prepared. "Being prepared" means that when the "big breakthrough" suddenly comes, you'd better have a position.
Finally, let me tell you the latest news: the deadline for the SEC to appeal against xrp is 11:59 p.m. on Friday, October 18. If there is no appeal, Ripple may take off. Pay attention to the news tomorrow!
