Bitcoin rose slightly last night. Judging from the overall market reaction, everyone is looking forward to Trump's victory in the US election in November. If Trump wins, along with a 25 basis point interest rate cut, an explosive force will be formed, which will directly lead to an explosive market in cryptocurrencies. Bitcoin began to move upward after receiving support from the lower edge of the 4-hour level. In the short term, it is still testing the resistance level near 63,000 above the shock.
Recently, the fear index is around 30, and each time the bottom is bought, there is a good increase.
In terms of operation, it is right to choose to buy again below 60,000 points in the early stage, or wait for a lower point. If you want to do a swing trade, the next swing selling point is around 64,000 points. The long-term holding view is to continue to patiently wait for the opportunity of a low point, or wait for the establishment of a reversal signal.
In this halving cycle, although Bitcoin hit its previous high in March, BTC has experienced a healthy consolidation period in the past 7 months. Although this is a tough test for many newcomers who entered the market at the high point in March, it is obvious that BTC has been in the 60-70k range for much longer than the 50-60k range, and this is the result after many terrifying selling pressures and negative tests. This shows the solid fundamentals of BTC at this stage and lays a solid foundation for the next stage of upward breakthrough. Once the market breaks through $80,000, the probability of seeing $60,000 again may be very small.
After the retracement, the final pull-up of the second half of this bull market will begin. So far, it can only mean that BTC has just entered the bull market and recovered lost ground, but has not started a real bull market. The future of BTC is very clear.
Altcoin Market
Recently, the altcoin market has exploded in meme and AI L1 public chain. Currently, cross-chain and RWA have not exploded yet, so you just need to ambush.
Currently suitable for layout of currency sharing:
1. SAGA: VC unlocked coin, worth paying attention to.
2. SATS: Inscription sector, with good depth and liquidity.
3. FET: The leader of the AI sector, driven by the positive AI announcement released by Musk on October 10.
4. PEOPLE: An election-related coin, expected to take off during the November election.
5. PEPE: The leader of local dog coins, with huge growth potential.
6. Neiro: A new local dog coin with the potential to be an early PEPE.
7. ONDO: A representative project for asset digitization
Based on the analysis of the Bitcoin halving cycle, October is a turning point in the market and the market may usher in a surge.
4 altcoins can be configured
$PEOPLE
With the concept of the US election in November, MEME, which has a low market capitalization and ranks only 143, $People is about to break through, so you can pay attention to it.
$BANANA
One of the projects that can really generate revenue in the cryptocurrency circle. The official announcement of the reward is that it is purchased from the secondary market and belongs to the TON ecosystem. After the arrest of the founder of TG, there was a series of negative reactions, but there was no obvious decline in the market. The form broke through the consolidation range of several months.
$KEY
The overall structure is a "breakthrough-retracement-rebound" structure, and the left side is a bit oversold, so the overall rebound space is still quite large.
$NEURO
The most eye-catching meme on the exchange. $NEIRO shows strong bullish momentum on the 4H chart, breaking through the upper Bollinger Band and increasing volatility.
Trading method: step-by-step rise, each time it will break the previous high and then pull back and then rush up, there is heat, sufficient liquidity, high volatility, each time it fluctuates sideways for a period of time and then continues to rise
