Weekly level, the pattern needs to open up, purple oscillation + red golden pit, belongs to consolidation -- expansion -- pullback -- expansion, currently also in the pullback stage, a good time to buy
The next trend of BTC has three possible outcomes, each of which could have a huge impact on your altcoins!
The first scenario is that if BTC breaks through the 100,000 mark and then drops about 5,000 points.
Then altcoins might initially rise about 5% along with BTC. But once BTC corrects, your altcoins could plummet by 15%!
The second scenario is if BTC fluctuates in the range of 97,500 to 99,500, then your altcoins have a chance.
During this period of BTC's fluctuations, your altcoins could very likely surge by 15% to 35% (of course, not all altcoins will behave this way).
The third scenario is if BTC directly corrects 5,000 points from the current 99,000 position, then your altcoins will be in trouble.
When BTC is rising, your altcoins might remain stagnant, but once BTC corrects, your altcoins could plunge by about 15%, and some altcoins might even drop more severely, all to accumulate strength for BTC to continue challenging the 100,000 mark!
The SHIB formation looks quite good, resembling a rounded bottom pattern. The price started to pull back and accumulate power after reaching the neckline position. The next step is to break through the neckline and then begin to accelerate upward, similar to the previous surge with DOGE, but it follows a more standard path. Current price is around 0.025, buy a bit and wait for an entry opportunity to appear.
Ethereum #ETH has completed the expected trend for October 24 (blue dashed line): breaking through the EMA200 moving average, the trend shifts from bearish to bullish, and resistance becomes support.
Next, as long as the price remains above the EMA200 (even if there is a pullback), the upward trend is expected to continue and may replicate the strong performance seen in early 2024.
Ethereum still has opportunities for long positions or buying in the future, but now is not the best time.
Bitcoin is fluctuating around the $100,000 mark, and preserving profits is often more important than aiming to earn a little more.
The accumulation action at the bottom is obvious, with the previous high point serving as a strong support level for accumulation above, preparing for takeoff~
Pay attention to the big coin's pullback action, as the big coin starts to decline, funds will soon be distributed to various altcoins. Recommended entry point for STX: 1.6125
Market Analysis: Bitcoin remains relatively strong, while altcoins are still unclear and need to be closely monitored. The following scenarios may occur.
1. Bitcoin continues to rise, breaking the 100,000 mark. If it breaks 100,000, it may rise another 1,000-2,000 points before starting to pull back, and altcoins will also experience a slight pullback.
2. Bitcoin oscillates within the current range, leading to a surge in altcoins.
3. Bitcoin directly pulls back, causing a significant pullback in altcoins.
Operation Strategy: Focus on buying during pullbacks, establish positions at important support levels, be cautious with short positions, and strictly implement profit-taking and stop-loss measures.
BTC broke through the upper channel and started a new round of increase, with an upward target of 120,000. As long as it does not drop below 6,700, the newly formed structure will not be broken.
Reflecting on the current bull market cycle: which stage are we in? First Stage BTC continues to lead as always. The market giants drive the crypto trend, but once BTC stops rising (or slows down), other tokens will 'take over'.
Second Stage SOL, as a standout among altcoins in this cycle, is beginning to rise. Additionally, some major altcoins may follow, but with weaker performance (currently in this stage).
Third Stage The following tokens may 'take over' the rise of SOL: (Image 1) Mainstream memecoins: DOGE, SHIB, PEPE, WIF, BONK, POPCAT Mainstream altcoins: RENDER, SUI, APT, LTC, etc. Some tokens may underperform or explode later.
Fourth Stage This stage is dominated by the hottest narratives. Memecoins, AI, RWA, and some combinations of these narratives, such as AI memes and AI x DePIN, etc.
Fifth Stage In this stage, low market cap tokens start to rise rapidly, even increasing once an hour. This stage is the best trading opportunity for solid memecoins and projects with good fundamentals. Choose the best-performing tokens, as market surges and crashes often occur.
Sixth Stage (Image 2) Funds flow back to BTC. As the market matures, these cycles become increasingly difficult to predict. Don't waste this bull market; you still have time to make life-changing money in the next 5-9 months.
The coin that went live on okx yesterday shows signs of a rebound from the bottom in the small timeframe. You can buy the spot near the current price of 1.12, expecting a price increase of over 50%!
The current price of Saga is about 1.85 for a long entry, 1.8 for a re-entry point, and if it falls below 1.72, then stop loss.
Currently, the daily chart shows a buy signal for Saga, with yesterday's upward trend accompanied by increased trading volume. The market is still good, and additionally, the main operator intervened last night, now forming a W double bottom pattern, with potential above!
During the trading process, we should follow the trend. So how do we determine the direction of the trend? Among them, judging the trend based on the BOLL (Bollinger Bands) upper, middle, and lower bands is relatively accurate!
1. When the upper, middle, and lower bands of the Bollinger Bands are all moving upwards, it indicates that the market has strong characteristics, and it will continue to rise in the short term. At this time, one should firmly hold onto their assets and wait for the rise, considering the price fluctuating between the middle and upper bands as a bullish market.
2. When the upper, middle, and lower bands of the Bollinger Bands are all moving downwards, it indicates that the market has weak characteristics, and it will continue to decline in the short term. At this time, one should firmly observe the market. When the price fluctuates downwards between the middle and lower bands, it indicates a bearish market.
3. When the upper band of the Bollinger Bands is moving downwards while the middle and lower bands are still moving upwards, it indicates that the market is in a consolidation phase. If the market is in a long-term upward trend, it indicates a strong consolidation during the upward movement. At this time, one can hold onto their assets and wait for the rise or increase their positions during dips.
4. When the upper, middle, and lower bands of the Bollinger Bands are almost simultaneously moving horizontally, it indicates that the coin price is in a sideways fluctuation state. At this time, one can use the Martingale strategy to perform high selling and low buying actions within the range.
OBOT is another narrative conceptual coin following the previous A16Z+AI's goat, developed by oxyz. They created an artificial intelligence called SuperMissO, aimed at integrating artificial intelligence more into the blockchain ecosystem and building a strong community. shadid_io is also the founder of ionet, doesn't it have that A16Z flavor!
With a maximum MCAP of 54 million, they also have a burning deflationary mechanism. Currently, the market value is 9-10 million, and it is estimated to have a chance to return to 30-50 million.
Several Rules for Short-Term Cryptocurrency Trading: When doing short-term trading, you must pay attention to: 1. First: Sell any coin that has risen for more than 7 days;
2. Second: Absolutely avoid coins with a deteriorating trend.
3. Third: Short-term trading emphasizes quick entry and exit, do not linger in battle.
4. Fourth: Pay attention to trading volume, be cautious with coins that have abnormal increases or decreases in volume.
5. Fifth: Set stop-loss and take-profit points, and strictly execute the discipline.
6. Sixth: Only trade familiar sectors and coins, do not blindly follow hot trends.
7. Seventh: Stay calm, do not be influenced by emotions, and avoid impulsive trading.
8. Eighth: Make a plan before the market opens, do not make last-minute decisions during trading.
9. Ninth: Learn to stay in cash and wait for the right opportunity to act.
10. Tenth: Continuously summarize experiences and improve your short-term trading skills.