BITCOIN ANALYSIS TODAY 01/11: TECHNICAL PULLBACK OR REVERSAL?
📊 Technical Analysis ▪️BTC/USDT Timeframe D1 The bears have increased selling pressure, the D1 candle yesterday had a wide range, however, it has not broken the support and the inside bar price action model, so the wave structure is still in accumulation. As we move into today, selling pressure continues to appear, at one point the bears pushed the price down to $68,830 but quickly bounced back. Prices are expected to fluctuate around the $68k - $70k zone in the coming days, both accumulating and waiting for election news. If Mr. Trump wins, we are likely to see a new ATH.
In October 2024, the Crypto market witnessed significant fluctuations, #BTC ended October with an impressive growth of 24.9% (from $58,940 to $73,620), creating expectations for the next Bullrun. This month there is a very important special event, which is the US presidential election - one of the most powerful figures on the planet, almost the entire market wants Donald Trump to win because he tends to support Crypto.
BITCOIN ANALYSIS TODAY 31/10: PRICE CANDLE AT THE PEAK AREA
📊 Technical Analysis ▪️BTC/USDT D1 Timeframe The D1 candle on 29/10 has a wide range, with large volume pushing the price close to ATH. Yesterday, the upward momentum of #BTC slowed down as the volume began to decrease and formed a bearish pinbar candle, simultaneously creating an inside bar price action pattern. Since creating the ATH of $73,777 on 14/03/2024, it has taken #BTC 229 days to approach this level again. Therefore, the resistance at $73.7xx is the last barrier for the Bears. This timing coincides with the end of the month and several important events are about to occur, so strong pump and dump scenarios in the thousands of price are not excluded.
📊 Market Stats: (coinmarketcap) ➖BTC: $66.778 (+0.99%) ➖ETH: $2.595 (-1.42%) ➖Market Cap: $2300B (+1.11%) ➖Volume 24h: $107.7B (-30.12%%) ➖BTC.Dominance: 57.4% ➖Greed & Fear Index: 56 📣 Some highlights: ➖In the last 24H, there were 93981 traders liquidated with a total amount of $304.69m ➖Largest liquidation order happened on OKX, ETH-USDT-SWAP worth $6.55m ➖Tesla Moves All $765 Million Worth of Bitcoin to Unknown Wallet
October 13 News: BTC price increases as China raises debt ceiling in economic stimulus package
📊 Market Stats: (coinmarketcap) ➖BTC: $63.194 (+1.25%) ➖ETH: $2.476 (+1.64%) ➖Market Cap: $2200B (+1.11%) ➖Volume 24h: $46.38B (-30.12%%) ➖BTC.Dominance: 56.7% ➖Greed & Fear Index: 43 📣 Some highlights: ➖In the last 24H, 37,796 traders were liquidated with a total amount of $76.35m ➖Largest liquidation order happened on OKX, ETH-USDT-SWAP worth $1.23m ➖Bitcoin whales continue to accumulate BTC at every opportunity. Since March of this year, whales have accumulated a total of 1.5 million Bitcoin, accounting for nearly 7% of the total circulating supply
BITCOIN ANALYSIS TODAY OCTOBER 9: UPPER MOMENT SLOWS DOWN
📊 Technical Analysis ▪️BTC/USDT Timeframe D1 At the beginning of the week,#BTChad a pump to the resistance zone of $64.4xx but then retreated and closed close to the lower candle shadow, forming a Bearish Pinbar candle, combined with a decrease in buying volume and an increase in selling volume, showing that the Bears are still in control of the market. This is a setup that shows that the price increase has slowed down and shows signs of reversal, however, there will be another push to test resistance, then at least a Double Top or Head & Shoulder Pattern will appear, then we can confirm that the price has reversed.
📊 Technical Analysis ▪️BTC/USDT Timeframe D1 BTC's price decline lasted for 4 days, including 2 days of sharp decline. Although there was a recovery on October 2, immediately after returning to retest the resistance at $62.4xx,#BTCturned around and closed the daily candle at $60.649, forming a Bearish Pinbar candle, showing that the Bears are completely in control of the market. However, these are still just pump dumps at the peak, the wave structure of#BTChas not changed.
BITCOIN ANALYSIS TODAY OCTOBER 2: BEARING WAVE FORMING
📊 Technical Analysis
▪️BTC/USDT Timeframe D1
The support zone of $62.4xx has been broken, causing the previous pump break of $64,700 to become a Bull Trap after 2 consecutive days of#BTCfalling, with almost equal intensity, the overwhelming selling volume shows that the bears are controlling the market.
Today#BTChas a slight recovery, however in the short term#BTCwill continue to adjust, the next level we need to observe is $59,200. However, the long-term trend of#BTChas not changed, sideways with a wide amplitude at the peak.
▪️BTC/USDT Timeframe H4
On the Timeframe H4,#BTChas had 2 consecutive pushes, 1 from $66k to $62.8xx, 2 from $63.9xx to $60.1xx. starting to form a downtrend when Lower High and Lower Low appear.
However, RSI is oversold so there will be a recovery here, reasonable with the current wave structure. To maintain the uptrend,#BTCneeds to pump up and close the H4 candle above $64.1xx to break the Lower High peak, thereby ending the short-term downtrend.
At this time, futures people are waiting for short, long scalp, expected plan:
📊 Technical Analysis ▪️Market context Today is the last day of the month and the end of the fourth quarter. If you have been following me, you will know the term rebalancing portfolio - this comes from funds and organizations that want to restructure the assets they are managing, so a slight correction is normal. The long-term wave structure of#BTCis still sideways at the peak, which has lasted from March 2024 until now.
There are signs of money being pumped back into the#Runessystem. When there is money flow, of course, the big ones will flow in first. $Dog, which is the largest capitalization in the#Runessystem, will definitely receive the first money flow.
WORKING IN THE COMMUNITY FOR 3 YEARS, I REALIZED MANY THINGS
Out there, there are still many chickens, when this batch of chickens grows up, there will be the next batch of young chickens.
Most of the people who just go online to watch the odds will lose, simply because their mindset is copy thinking, so when the market changes, they don't know how to handle the situation.
With the same capital, same entry, stoploss, target, but some people lose and some people win, so what is the problem? That is each person's position is different.
The market still runs like that, the waves are not something that has never happened, even... it is an indispensable part of this game, but every time it happens, the crowd is surprised as if meeting each other for the first time...
#BTC this time the wave is hitting everyone to the island. A few days ago, the view was about $4x.xxx, then it pumped up to $62k9, now it's 58k4.
All the old players play together so the market is even more unpredictable. To continue pumping, Market Maker must make the holders sell their stocks before pushing.
It's difficult to do anything these days. For me, my main job is doing business on e-commerce platforms. Now orders have decreased significantly, purchasing power has decreased, and there is also a lot of competition.
A Teo thinks that if you spend 5 minutes reading this article, everyone will have a new perspective on the market in the coming period.
For Mr. Teo, after 6 years in this market, he has the following 5 conclusions:
1. First of all, we must mention the $20 trillion Japanese Carry Trade that caused the Nikkei 225 index to lose 4,451.28 points, equivalent to 12.4%, marking the sharpest decline in the history of Japanese stocks. August 5 is also known as "Black Monday" in the history of the global stock market, when a series of major stock markets witnessed a sharp decline. Therefore, large funds were forced to sell assets in other investment channels to cover losses.
BITCOIN ANALYSIS TODAY 09/08: WAIT TO BUY AT PRICE PIVOT ZONE
$BTC 📊 Technical Analysis
▪️BTC/USDT Timeframe D1 Yesterday,#BTCfluctuated with a very strong amplitude, a Bullish Marubozu candle broke the insidebar price compression pattern + 60k confluence zone. The downside here is the low volume, only 1/3 of August 5, showing that selling pressure at the bottom area has decreased. The recent ups and downs have occurred with high slopes, seemingly long/short k.i.l.l.s, sweeping liquidity from Market Makers. Thus, the wave structure of#BTChas not changed, sideways with wide amplitude at the peak.
📊 Technical Analysis ▪️BTC/USDT Timeframe D1 At the time of writing,#BTChas increased from the opening price of $55,102 to $57.4xx with a short lower candle shadow, BTC.Dominance broke the resistance, continued to increase, showing money flowing into #BTC. After the sharp drop on August 5, today is the 3rd day that#BTChas fluctuated at the old bottom. Yesterday was a bearish pinbar candle showing that selling pressure is still above. #BTC is having a typical wave structure after a strong increase/decrease, which is sideways and accumulation. One worrying thing is that the recent decrease with the strongest volume since April 26 shows that there are sharks taking profits.
BITCOIN ANALYSIS TODAY August 4: WAITING FOR THE SHORT TO ACCEPT THE TREND
▪️ Market context #BTC's previous price drop took place within 28 days, from the peak of $72,140 to the $53.3xx area, including a 9-day accumulation period in the $60k-$63k area. Will history repeat itself this time, after accumulating, breaking support and going down? 📊 Technical Analysis ▪️BTC/USDT Timeframe D1 The price decline has stalled when reaching the old support zone + the psychological support threshold of 60k. Volume tends to decrease, most likely ending today#BTChas formed a price compression model inside the price action, reflecting the current market psychology. After a period of strong fluctuations, the price will tend to compress the accumulated price to continue the trend or reverse.
$BTC ▪️ Market context Looking at the market, everyone can understand why in the past 1 week, on Vietnamese Crypto Trading channels, there has not been a single spot surfing order called. Surfing when#BTCapproaches the old peak is an option that carries more risk than opportunity. If you have held coins before, I advise you to turn off the app and do other things,#BTCwill reach the ATH mark again but not in the next 1-2 weeks, it is a story from now until the end of the year.