U.S Elections 2024:

Donald Trump leads Kamala Harris by 20% ...Data from Polymarket

Breaking : The SEC approved Option Trading for Spot Bitcoin ETFs on CBOE and NYSE.

NYSE : GrayScale BTC Trust (GBTC), Grayscale Bitcoin Mini Trust (BTC) and Bitwise Bitcoin ETF (BITB).

CBOE : Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB).

This is a good step in crypto exposure to more people.

However the approval for Spot ETH ETF options is still awaited !

Mt Gox replayment plan extended to October 2025, and this will reduce the pressure from the market.

News covering this thing but How?

That time we would again be in bear market...

Think about it, people getting $BTC and $BCH in bull run, they will sell and it will create resistance and bear pressure.

But, if people get the repayment in bear market, even though they would be in profit, most of the people might decide to hold.

Some will enjoy on their decade long profits but that's okay, going to drag bitcoin price to $15,000 atleast.

So this is also a bullish news.

What is it that you like to see the most?

1. The crypto news.
2. The bitcoin charts
3. Meme charts
4. Views on current market.
5. Market Learnings.

A bold move by Crypto dot com to file legal suit against the SEC to protect crypto.

SEC has been targetting cryptocurrencies calling them securities.
A good time to give them a reply.

Less than a month left for the U.S elections.

$FTT Going to bleed as the FTXbankruptcy plan has been approved and the FTT token has no use case left.

The firm most likely to liquidate this token for the replayment plan.

Investors must make decision to come out of their positions or they gonna suffer badly.

As the exchange will proceed towards the replayment plan, its native token is gonna vanish from the market.

Good news for crypto community!

Since FTX bankruptcy plan has been approved by the court, the creditors can receive upto 118% of their funds.

#FTXRecovery is on the way and the exchange has to pay billions to the creditors.

Tommorow HBO documentry about Satoshi Nakamoto is going to be aired.

But do we really want to know who he is? Isn't it nice that his identity is hidden and that is the reason Bitcoin is decentralized.

He hated how online privacy and centralization was eating the world and that is why he created Bitcoin.

Whatever happens tomorrow, don't forget #WeAreAllSatoshi and I hope HBO decumenty states the same.

Even if they have found the identity which I highly doubt, Let's not forget the mission, Decentralization!

About "Money Electric", I feel they are going to share the economic conditions of 2008, the dotcom bubble, the fall of economies, Satoshi emails, people getting and contributing to the Bitcoin project, disappearance of Satoshi and his Bitcoin wallet, and the how the world is currently reacting to bitcoin and how it is supporting many economies.

What do you think what is there in the documenty?

And why do we need to know who the real creator of Bitcoin is?

$BTC Trying to rise up but whales are shorting it.

The "cup & handle" pattern spotted in the hourly chart gives an idea of the rise which is supported by RSI. Hoever, looks like whales are not yet ready to see bitcoin move above $64,000.

Indeed, this is an area of high resistance but already pinned twice, the third hit may allow the price to pass and confirm the support but the risk of whales is always there.

Liquidity heatmap shows, we can witness another correction towards $63,000 however the moving averages are moving in a possition to build a golden cross over in the next few hours.

The market is in confusion, but there are great chances of btc to cross over $64,000 this time.

In case, it gets rejected once again, get ready to witness the $62,800 zone for the support, if failed, next support lies at $61,800.

Let's hope we don't see it again.

We want $66,000 this time.

Correct me if you feel I am wrong and share your views on this analyses.

The only thing SEC can do about Ripple is to extend the legal war.

They filed the appeal, then Ripple will file the appeal. Easily Feb 2025.

Sources says, this war will take another 1.5 to 2 years before ending.

But yeah November elections, and Trump Administration, raises a hope?

Don't be, because they will then say we don't interfare in the legal things, but yes if Ripple comes out clear after everthing we will support and create a nurturing ecosystem for it as well.

In real, $XRP Don't give a shit about all this.
Don't look at the price, look at all the things the project XRPL is doing.

There is only growth, XRP changing how cross border payments are settled, now expanding to more financial institutions.

Life of a crypto trader :
As soon as he takes a long trade, the crypto starts to DROP.📉
As soon as he takes a short trade, the crypto starts to RISE.💹

{PART -1}

I am 101% sure this has happened with you, and not just one time.
Do you know why this happens?

Wrong Timing:
A vast majority of trader check the chart when the market is already pumping and dumping.

If it is already happening, you are late, stay away.

But Trader catch FOMO and the brain starts telling "how nice opportunity it is and you should not miss it, let's catch the running train, we might make some money."

The brain will never say, don't try it, you can lose funds as well.
That's greed.

Traders should learn to control their emotions or loss is evident!

Let me know if you need more explaination about it. Also second part will come soon, so stay connected!

Watch out for these key zones before you plan your trades.

Red: Resistance
Green :Support

Knowledge of these zones plays a very crutial role in trading. The Violet line is the Moving average 200, if price goes under it, recovery would be hard.

This line prevented Bitcoin to fall under $60,200.

The market is in very fearful sentiment, check out for the fear and greed index tomorrow. Today it is at 42, if conditions remain the same, it would be between 20 to 24 in the morning.

What information does your brain process just by looking at this image?

Why Did Bitcoin Crash?

Crypto people must always be aware of the news, especially those that can impact the investments.

1️⃣ Possible no rate cuts coming. (Powell)
2️⃣ Israel War

These are the reason why $BTC crashed down.

It will recover soon (already recoving).

But keep an eye out for any kind of news.

When everyone starts to feel super bullish, the market changes direction with any excuse, this helps the Market Makers to make money.

Even though its not a bull run for us retail investors, its always a bull run for the Market.

This crash caused millions of market liquidation. People made money by Shorting BTC and altcoins.

I hope now you understand why we witnessed the #bitcoincrash .

The Support zones are now resistance zones, so plan your moves accordingly.

$BTC Chart Analysis: 01-10-2024 10:29 (GMT+5:30)

For a short term, since BTC came down from $65,500 as I talked in my last night message,

let's see 1️⃣ as a downtrend.

2️⃣ and 3️⃣ shows a diversion in flow, suggesting a rise.

4️⃣ A formation of Rising start -> Bullish sentiment

5️⃣ A nearest resistance that can send back the price for retesting support at $62,800.

6️⃣ The main resistance at $65,500, the big fear, only to be resolved by huge buying power.

Greed and Fear Index recorded at 50 (Neutral), but in real there is no neutral in Crypto market.

Market will try to lift up, if fails to cross 5️⃣ will come back to 4️⃣.

Stay Alert!

Has it happened with you :

$BTC is falling, you open a short trade and after a few seconds it flip the side and starts to rise.

or if it is moving up, you open a long trade and immediately it starts to fall down?

This is common in market due to incomplete analysis.

Will share some tips to avoid these things, but for now let me share some support points if btc falls below this level.

1. $63,200 is the lastest support but has been tested twice, chances of breaking if gets another hit. Entry of new buys and removal of paper hands is required, the price can go to test 64. If it breaks 👇

2. $62,800 is the next support level, huge possibility to hold and price rebounce.

3. $62,500 Have a good power to hold price fall,
buying volume required. Should not be tested with high bear power, its the dam, if broken chances to go down to 60.

4. If above all fails, $ 61,830 A weak support, then there is 60.

I am not a bear, but knowledge of support and resistance is the first level in Technical Analysis.

stay alert, take decisions accordingly.

This is the risk I have been talking about.

When market is in Greed have some fear and when market is in fear, time to accumulate.

This drop in price can cause more panic in the market, $BTC price can go down to $60k if the panic spread, and it spreads like forest fire.

Be alert, taking trades without a proper planning can be risky.

This is crypto liquidation data for the last 24 hours.

Bitcoin moves 1%, alts move 5 and memes 10-20 or may be beyond.

This is a reminder to understand risk managerment and take it very seriously.

On a daily basis, move 60k tranders are being liquidated with millions of dollar leaving their pockets to enter market maker's.

When you plan a trade, make sure to have 2 more things :
1. Your Exit Plan
2. Your Risk Managerment or Stop Loss.

Market is your friend only when you move according to it, but in order to do that, you need to understand how it moves before you make a move.

How many times have you been liquidated in your life?

I will soon share my learnings from all the times Market REKT me. Do you wish to learn?

Update on #FTX Repayment Plan.

Repayments are not starting next week.

Here is the timeline:-

October 07, 2024 : Confirmation hearing : It is a court proceeding where a judge decides whether to approve or reject a debtor's repayment plan. The judge considers the plan's feasibility, listens to creditors' objections, and asks questions about the plan. 

October 22, 2024 : Omnibus Hearing :- Lawyers may argue to exclude specific evidence and the court may hear a variety of matters related to the case.

The small amount creditors may start receiving funds till the end of 2024, however, the creditors with large sums of credits might have to wait a little longer till 2025.

Apologies for the previous post.

See more:-

https://x.com/imvijaygir/status/1840566375666061709

Ftx repayment starts next week.

get ready for a market jump.

crypto people could not invest due to the scam, now they gonna have money and where they will put it?

you know the answer, so better buckle up for a crypto ride.

When market is in confusion, uncertain where to more, you should have some fear and not take risks of trading.

Always remember, this is a war against the market and it has the potential to rekt even whales, where do we stand?

Sometimes being fearful is the right decision.

Watch the market, let it flow, get the confirmation then make a move.

In the last 24 hours, over 64k traders lost $136.83 million in funds. What was their fault?

1. Lack of Risk Management.
2. Over confidence that they can fight the market.
3. Most of the traders enter into "Revenge Trading" mode.

Do you know any more faults they might be on? Do share with the community.