From the closing situation of Bitcoin, the bears have not continued to hold the advantage, closing with a doji star bullish candlestick. From the four-hour level, several lower shadow lines have also been formed, indicating that a lot of bottom-fishing capital has entered around 67,000. Therefore, for now, it is advisable to continue maintaining the strategy of buying on dips. As long as the market adjusts above the controllable range of 64,800, it is acceptable. After gaining strength for a period, the next attack will be more stable. So, be patient and hold your positions, just buy on dips!
Ethereum's movement is relatively weaker compared to Bitcoin. Key positions can be pushed back even after breaking through, so it is more tortured in the medium to long term. As long as Ethereum can stabilize above 2520, altcoins are temporarily safe!
The market's profitability effect remains mediocre, patiently waiting for Bitcoin's further breakthrough!
Despite Bitcoin's drop in the past two days, Bitcoin ETFs continue to see net inflows, and there has been a significant net inflow for a week. BlackRock's Bitcoin holdings have surpassed 390,000 coins. Once BlackRock consumes the liquidity within the exchanges, the singularity will come; in financial markets, money and chips are king.
Regardless of how the economy changes, it does not affect BlackRock's daily purchase of billions of dollars in BTC.
BTC's ultra-short-term price is meaningless; look at it over a few months, BTC will be a breakthrough sky-high bullish candlestick.
Don't worry about BlackRock not having money to buy; just be afraid that you don't have coins.
After several tests at 66,500, how will it move next?
It is clear that BTC is exchanging chips in the range of 60,000-69,400, where low-priced chips have been exchanged for high-priced ones. In simple terms, the chips in the 60,000-66,000 range are being sold off in the 66,500-69,400 range. Additionally, from the candlestick chart, the current price is stable above 66,500, and once the price approaches 66,500, it is bought up.
In the range of 66,500 to 67,200, and 68,000, there has been turbulence for a few days. It seems that both bulls and bears have reached a balance here, waiting for new sentiments or information to break this balance.
Next, this week’s macro data, such as the final value of Michigan University’s Consumer Confidence Index on Friday. There are no market makers on weekends, leading to even lower liquidity. Coupled with the macro data PCE next week, and the earnings reports from MSTR and COIN, as well as the approaching U.S. elections. These news events will drive sentiment and stimulate BTC price fluctuations. Of course, among the events mentioned above that stimulate sentiment, positive sentiment is more prevalent. Even negative sentiment is only very temporary; of course, when negative sentiment appears, it will definitely test the lower position of 65,800.
In the future, good earnings reports from COIN and MSTR, as well as the sentiment from the elections. If it continues to rise, there is still a magical position. Looking back from April this year to now, it has not broken through 70,000 and 72,000. Especially at the 72,000 position, friends can pull out the weekly chart of BTC to see.
Once sentiment drives funds to buy in and breaks through 72,000, then it will be a new high. At that time, do not be too FOMO.
Two aspects of altcoins to pay attention to:
1. Game sector, most of the代B launched by a certain 安 since the end of last year are in the game sector, but at the beginning of the year, the first wave of counterfeit games barely made any effort. After more than half a year of cleaning, the high point has dropped nearly 90%, and now it is starting to exert a little force.
2. MEME sector, first hyping various animals like frogs, hippos, BOME, etc., and now hyping the election PEOPLE on a certain 安. Now it's time for AI + MEME, and it's highly likely that MEME will run through the entire cycle.
Other smarter counterfeits have begun to transform into MEME launch platforms, for example, APE is following the SUI, APT route, which has boosted the price of B. There are also DYDX and BAKE, which will follow suit to reap some benefits later. Now, you can either follow along, switch to slightly more stable large-cap MEMEs, or blue-chip DEXs, or seek short-term opportunities for price surges, summarizing based on news. If you really don't want to change or move, just wait for Bitcoin to reach new highs, and then the rest will perform.
Apart from memes, the performance of public chains is still okay. SOL is also the absolute leader here, one of the few projects that can rise against BTC. The movements of TIA, ICP, TRON, and ADA are also decent, while most other altcoins are in a downtrend. In summary, the market is not yet a full-blown altcoin bull; I still believe Q4 will see a big wave, so let’s look forward to it together.
(Recently plan to find some low-market-cap coins with news to ambush, helping everyone recover losses. Currently, the market cannot be patterned; short-term aim for a 30% gain and exit. The next password will soon be revealed!!)
