Yesterday's Market Review
BTC slightly pulled back yesterday, and the pullback was beyond expectations. BTC did not fall below 60,000. The current trend is still healthy. Keep your position. Today's CPI data needs to be paid special attention. It is expected to be positive. Note that there may be large fluctuations at night. Yesterday, the two cakes followed BTC to pull back to around 2350. Keep holding the hidden yesterday. Continue to be bullish in the future. The target range of 2800-3000 remains unchanged. SATS can continue to be held. You can consider clearing the position around 50. You can continue to wait for PEOPLE mid-term holdings. Other altcoins FTM remain held
Intraday market analysis
BTC 1-hour and 4-hour levels are below healthy levels, and the daily level has returned to a healthy level. Keep a wait-and-see attitude during the day, waiting for the evening data market. There is a hidden position to maintain, and the expectation of the big cycle has not weakened. The support below is 59500-60000, and the resistance above is 62500-63000.
ETH 1-hour and 4-hour levels are below healthy levels, and the daily level has returned to healthy levels. Keep watching during the day and wait for the evening data market. There is a hidden position to maintain. The upper resistance during the day is 2460-2500, and the lower support during the day is 2320-2350.
At present, BTC has reached a critical position. The daily and weekly lines are about to form a golden cross. A big positive line is needed to drive the market rhythm. Today will be a critical time node. The CPI data is released, and it is expected to be positive. If there is a good upward expectation, the next market will be more optimistic. The golden cross on the daily axis + the golden cross on the weekly axis will have a chance to form. The formation of a large-cycle double golden cross will be an important signal for the beginning of the bull market. There will be many positive factors such as the general election, interest rate cuts, and FTX capital release. Stay optimistic. The large-cycle expectations have never changed, and the bull market expectations are still based on
BTC slightly pulled back yesterday, to around 60,300, with a drop beyond expectations and no significant increase in volume. It is expected to continue to consolidate during the day. Pay attention to the data market in the evening, which may fluctuate greatly, and the expected positive news may be greater. The old friends who built the Tibetan yesterday should keep holding and wait patiently for the data to be released.
ETH followed BTC in a synchronous pullback, and the pullback was around 2350. Recently, the ETH ecosystem has continued to recover and the activity on the chain has continued to increase. It is not far from the start of an independent market. The old irons who started yesterday should keep holding. The downturn will not continue. A new round of rising cycle is not far away.
The altcoin sector will follow the mainstream and consolidate synchronously. SATS will continue to be held. If it rises to around 50, it will be cleared and exited. The mid-term holding can be expected to be around 80. PEOPLE will have good expectations before the November election in the mid-term. CKB will continue to be held after reducing its holdings and wait for the ecological explosion. The altcoin sector will patiently wait for the mainstream to adjust. Consider following up with other high-quality currencies to build holdings, such as SSV, BB, etc. for mid-term deployment. FTM will remain held, and FB will not be moved for the time being, waiting for the ecological recovery.
Fundamental news: Today's CPI data needs to be paid attention to
Primary market information:
RGB++ continues to pay attention, but the popularity is not very good recently
The rune market has recovered, please wait patiently
SOL, SUI, and ETH chains have been active recently. You can pay more attention to them. There are short-term speculation opportunities.
Intraday mainstream currency support and resistance:
Today's intraday market, BTC's support is 59500-60000, and the upper resistance is 62500-63000. ETH's support is 2320-2350, and the upper resistance is 2450-2500.
Today's Greed and Fear Index: 39 (Fear)
3 cryptocurrencies will bring 100 times excess growth!
1.FTM
According to analysis, Fantom (FTM) has shown a potential uptrend. The coin has been trading in a falling wedge pattern for a few months and recently broke above a key resistance level, indicating a shift in momentum.
Captain Faibik's chart analysis suggests that a breakout of this wedge pattern could signal a reversal of the prior downtrend. Typically, this pattern indicates that selling pressure has weakened, allowing buying activity to take over. The breakout occurs when FTM's price breaks above the upper boundary of the wedge, which suggests that buyers are taking control.
The development could represent a turning point for Fantom, which had been trading in a tight range for some time. With the resistance level broken, the outlook for the coin appears to be more positive. A price target range of $1.60 to $1.70 was established, representing significant upside from current levels.
While the charts indicate strong bullish momentum, a potential rebound is not necessarily guaranteed. Still, if buying pressure persists, the coin could soon reach the predicted price range.
2. SHIB
Shiba Inu (SHIB) has experienced a significant recovery following an unexpected price drop over the past 24 hours. The meme coin is showing signs of improvement, with growth metrics including the burn rate rising. The destruction rate increased by more than 455%, indicating that the project’s key metrics have been reset.
Following the recent decline, SHIB is attempting to recover its earlier losses. As of the time of writing, the token has gained 1.68% with the price reaching $0.00001765. It has also managed to break above the previous resistance at $0.0000174 which is currently acting as support. This shift could signal a possible price rebound.
The increase in destruction rates is also significant. Approximately 2,903,600 SHIB tokens were sent to dead wallets, bringing the total amount burned to over 410 trillion. Meanwhile, approximately 583 trillion SHIB are still in circulation.
For investors, this reset is an important development to watch as it may reflect the health of the Shiba Inu ecosystem. Continued improvement in these metrics could lead to more investment in the token and could soon boost its value.
3.DOGE
Dogecoin has shown significant movement recently. It is priced at $0.109319, up 1.73% in the last 24 hours. Over the past year, Dogecoin has experienced massive growth of 85%, outperforming 57% of the top 100 cryptocurrencies during the same period. This indicates relatively strong performance compared to other assets.
In the past 30 days, Dogecoin has closed higher than its daily opening price 16 times, accounting for 53%, which shows that the price activity is still strong. In addition, Dogecoin has high liquidity relative to its market value, so it is easier to trade.
Looking into the short term, next week’s forecasts suggest a possible decline. By October 21, 2024, the forecast range is between $0.107916 and $0.096179. If DOGE reaches the upper estimate, it would mean a drop of 10.88%.
