Bitcoin price rises as expected, breaking through 63,000
In yesterday’s analysis, we said that the short-term trend is an upward trend. If the 12-hour and daily levels close with a long needle, the market will rise. Sure enough, Bitcoin rose slowly around 60,000, and at night it went in bulldozer mode. After 12 consecutive hourly positive lines, it broke through 63,000 US dollars at 3 am, and then fell back slightly.
Back to today's market analysis, from the K-line, BTC is in a downward trend at the one-hour level, and in an upward trend at the 4-hour, 12-hour and daily levels. There is a high probability that there will be no market at the weekend and it will be sideways around 60,500. The intraday pressure level is 64,000 and the support level is 61,000.
The key area for ultra-short-term trading is 62400-62600/61850. If you want to play, it is definitely not recommended to chase the high position. Don't make a move unless it falls back. Keep an eye on the support level to see if there will be a confirmation of the first support level at the weekend.
In terms of operation, it is recommended that those with large funds can add some small mid-term spot grids (gambling on the rebound expectation of the interest rate cut on November 7), such as CATI/HOOK/PROTAL/LDO/RATSA, etc.! You can step back and open the spot grid for those that you are optimistic about!
In addition to a meme, the other hot topic in the cryptocurrency circle recently is A-shares! ?
Changes can also be captured from the chain. The following is the premium relationship between USDT OTC and USD.
If it is lower than the US dollar, it is a negative premium, which means that funds are flowing out. Apparently, many people in the cryptocurrency circle have already moved during the Chinese National Day.
We can see that in the past week, there has been a clear negative premium.
But the detail is that this table is up to October 7, and the data for yesterday and today cannot be seen.
At present, the US dollar exchange rate remains unchanged. Can we see whether the OKX OTC price is still 6.94?
The latest data has reached 6.99, which means that the negative premium has been severely reduced. In other words, many funds that were originally going to leave have stopped trading after seeing the terrible situation of A-shares.
Speaking of A-shares, I don't think the harvest will be completed so soon. After all, this is a big game. Regardless of whether it can really promote the development of the real economy in the future, Guo Jia must have vigorously promoted the path of asset appreciation. Although the meeting of the State Council Information Office on October 8 did not clarify the subsequent fiscal stimulus policies, the overall picture can be summed up in one word: release.
In China, if you catch someone, the situation will be dead, and if you let him go, the situation will be chaotic. However, great chaos has always been a great order for the people.
The short-term plunge is mainly due to the huge profit-taking in the previous week, and the subsequent funds could not keep up. As a result, major shareholders reduced their holdings, state-owned enterprises withdrew funds, and retail investors and foreign investors who had been trapped for a long time ran away. After this baptism, the bottom of 3000-3300 has become thicker, and the subsequent rise is still bullish. But it is really hard to say what will happen in the long run.
The US presidential election has entered a white-hot stage, but the latest poll data has sounded the alarm for the Democratic Party!
An American reporter recently revealed that based on the latest data, insiders from both the Democratic and Republican parties believe that Trump's chances of winning are rising significantly, while Harris may lose in six key swing states.
As for the uncertainty of the election, with the news that came out yesterday: due to the impact of the super hurricane, Trump's recent intensive campaign activities and Harris's recent activities have been very conservative, it seems that the market has begun to prepare for Trump's victory in advance.
If Trump fails to win in November, it will not be a bad thing, but there will be fewer surprises. The Democratic Party is also relatively friendly to crypto. After all, everyone knows that crypto is an innovative industry, and all Americans hope that innovation will happen first in the United States.
What I want to say is that no matter who wins, it will not ultimately affect the progress and trend of the bull market. It is just a matter of the timing and cycle of the outbreak.
Finally, let’s talk about high-quality targets.
WIF
The SOL chain has produced many billion-level memes this year, especially Bome, which was listed on AnAn in just three days and six days without anyone noticing, and also made a small group of people rich.
Bonk is one of the earlier ones, it was posted very early, and relatively speaking it is an old meme on Sol.
If we choose from the perspective of speculation on new rather than old, then the meme under the sol chain is the first new Bome, followed by WIF and finally Bonk. But if we look at the market value, WIF is more than 2 billion, Bonk is more than 1 billion, and Bome is more than 400 million. I am personally conservative and prefer a larger market value. Judging from the number of holders and the number of profit-taking addresses, Bome had more profits and holdings in the early stage, and WIF did not have as large holdings and profit-taking as Bome and Bonk in the last round.
Taking the three into consideration, WIF is better.
So, this is what I have been emphasizing before. The first choice is Wif, configuration
PEOPLE
PEOPLE, the unique American election/political themed "meme coin", has been proudly listed on a first-tier centralized exchange!
With American blood and capital support, PEOPLE is centered on the United States and brings together the wisdom of American founders and the strong support of American capital. It is ready to go!
The top exchange currencies, the eye-catching market performance is closely linked to the upcoming US election, PEOPLE showed surprising relative strength during the election debate.
Write to the end
The next few weeks... are the time to witness miracles!
