The question that everyone is most concerned about is whether Bitcoin will rise or fall in the short term. Please look at the picture.
We can clearly see that Bitcoin is now undergoing a major market framework shift, because before, Bitcoin had always fallen to lower lows, and the top was also falling.
But now, the bottom is rising, and the top is also rising. Now it is falling back after a sharp pull. As long as it stands firmly above 58,500, the situation will be reversed.
So now the low is higher, and the high is also higher. This is most likely a signal of a full-scale counterattack. You can buy more hands if there is a pullback, especially if you buy near 58,500. It is possible that it will slowly fluctuate and rise to more than 63,000.
So when does the stop loss or reversal signal become invalid?
If it falls below the previous high of 58,000 due to some negative news, it will create a lower high point, which is a signal of a downward trend, and you need to be extra careful.
In addition, there is a change now. I don’t know if you have noticed it, that is, the activity in the cryptocurrency circle has increased significantly, and many project parties are updating favorable information, which can also be reflected in the data.
Previously, both the 7-day and 30-day moving averages of trading volume were declining, but the situation has improved significantly recently. Although the price of the currency has dropped to 50,000, people are no longer panicking, their enthusiasm is gradually recovering, and major project parties have also begun to update favorable information. I think this is a very positive phenomenon.
In addition to what we said before, Bitcoin will rise wildly in the fourth quarter every year, with an average increase of up to 88%. The probability and consensus of an increase are very high.
So now I would rather be trapped than miss out, and I have been hoarding various high-quality currencies. I will buy some every time there is a pullback.
Altcoins
The first is that Solana encountered trouble again at a critical juncture. Its largest funder, the now bankrupt FTX, unlocked 170,000 Sols from the staking network to his address waiting for sale, causing considerable panic.
But do you think that’s the end? He still has 7.05 million Sols in his wallet that have not been sold yet, worth 1 billion US dollars.
As for this unlocking, I think we should not be too optimistic. They will sell a lot of them because FTX repayment will start in October, and these coins must be sold for US dollars to repay creditors.
The only question is whether he can sell it to institutions through OTC transactions, which will minimize the impact.
So Sol is really unlucky. The good news of the developer conference on September 20 was ruined by the selling pressure of FTX and the possible investigation of PumpFun that we talked about in the last issue. It is recommended to be cautious in going long at present.
BNB is much stronger, and now there is a new good news that it is going to launch the BNB re-staking function, so that BNB holders can obtain additional income through re-staking. Hey, doesn’t this increase the attractiveness of BNB?
In addition, re-staking will make the liquidity pledged coins staked again, and a coin will be pledged twice in a cycle, so its on-chain funds TVL will also soar, so it is also a very good benefit in terms of valuation.
Now Binance has also announced that it will launch Hamster’s new coin mining, which will continue until 8 am on September 26th.
Therefore, short-term players should remember that the early morning of the 26th is the time for you to escape the top, and then buy it back after a few days of correction. Before that, the price performance of the currency should not be weak, and there is a strong expectation of another rise.
From the K-line perspective, BNB has formed a large-scale head and shoulders bottom pattern. As long as Bitcoin does not lag behind, BNB is expected to fluctuate and rise to the neckline resistance of 600. You can make up for any major pullback before the 26th.
Moreover, Binance has such great power that if it really reaches 600, I think it will try to break through this resistance, and the end point this time may be 700.
But everyone should pay attention, this is a daily trend, its cycle will be relatively long, and there is also some uncertainty in the Bitcoin market, so please be more patient.
Although Bitcoin has not seen much effective growth recently, we have made a lot of money in advance by relying on the good news of various small coins. Those who are interested in real-time operations can come to the community to have a look, and the operations of various coins will be released in real time.
Grayscale announced the launch of Sui’s trust, which means that Wall Street institutions and hedge funds that were previously unable to buy coins directly from exchanges now have a legal way to enter Sui, which is a strong positive.
However, only 25% of the Sui coin has been unlocked so far, and there are still 3 times the current circulation of coins that are being unlocked.
There are indeed many positive news in the past few days, including Grayscale Trust, AnAn’s coin-based contracts, the launch of stablecoins, game console pre-sales, and the public chain TVL entering the top 10. Let it go its own way
At present, the technical 4-hour double top pattern + many chips have not been unlocked + the 9.19 news is bearish and smart money is hedging. The target position is the previous low box position of 1.01, and the stop loss is placed at the previous high position of 1.12
Just like Grayscale launched the XRP trust and Pendle launched Bitcoin staking investment in the past two days, but like Sui, these three are sudden good news, and the currency price went up when the news just came out. If you enter the market after a few hours, you are likely to take over the order, so it is easier to make money with BNB and other coins that allow us to ambush in advance.
In addition, the RWA sector, which has been dormant for several months, has also started to rise again. OM and Tru are both doing very well, especially Tru, which I mentioned earlier, has successfully broken through the W bottom, rising from 0.09 at the time to 0.122 this morning. The increase is as high as 30%. $SUI $BTC $SOL
