SEC approves BlackRock’s spot Bitcoin ETF options, Bitcoin hits a block at 64,000!
News came this morning that the U.S. Securities and Exchange Commission (SEC) has approved options for BlackRock's spot Bitcoin ETF. The news has not yet caused market fluctuations. Perhaps there are not many people playing options, so the impact is relatively small. The role of options is to hedge in extreme market conditions and protect spot positions. Now that BTC is constrained by the regulatory market, large fluctuations may be suppressed, and then everyone will no longer have to worry too much about the risk of a major market crash. In short, it's a big plus!
Yesterday's market review, BTC fell back after hitting 64,000 USD, and fell below 63,000 USD after the U.S. stock market opened in the evening. It rebounded near 62,350 USD at 2 a.m., and is currently consolidating around 63,000 USD. The market did not fluctuate much over the weekend, and it will take 2 days to recover and wait for a direction on Monday.
Today's market analysis, from the K-line, BTC is in a sideways trend at the one-hour level (MACD indicator suggests that it will soon go up), the 4-hour level is in a downward trend, and the 12-hour and daily levels are above the healthy level. Wait and see during the day, waiting for stabilization. The expectation for the big cycle has not weakened. The intraday pressure level is 64600 and the support level is 61530.
Looking back, on the third day after the Fed cut interest rates, the U price dropped from 7.1 to 6.9. According to the 50 basis point rate cut, the U price dropped by 0.2 cents. There are still 200 basis points to be cut in the next 5%-3%. It is likely that the U price will be 6 yuan by the end of next year. Do you exchange U for coins and wait for the price to rise? Or do you cash out and use RMB to preserve the value? Hahaha, you can talk to me!
There is no doubt: the bull market is basically rising for no reason every day, rising every day, rising and rising, and the contract position market sentiment rises every day, and then suddenly one day there is a flash crash of -5%, and then it continues to pull back and rise, and then the currency price reaches a new high in the month, and then it rises and rises and flashes back to -7% and then continues to recover. Every flash crash is an opportunity.
Historically, the fourth quarter has always been the best time for cryptocurrencies, and we are likely to see a similar trend this year. I feel that the turning point will also begin to appear in the second half of the year. Now BTC has reached 64K. If it continues to rise at this rate for a few more days, it will almost reach its previous high! Counting from this round of Bitcoin, the big drop from 60,500 to 57,500 on September 16, and the flash crash of Ethereum at 2,250 should be the first flash crash opportunity in this round of bull market. It was not until today's review that I realized that it was the starting point of the bull market and the first big opportunity (916 was also the 10th day of 906). According to this rhythm, 906-916-926-106-1016-1026.
The market is unpredictable in the short term, which means that there is no way to buy at the lowest price. Old investors should have experienced the 312 in 20 years. It plummeted by 40%, and it can plummet by another 40%; similarly, there is no way to escape the top. It rose by 3 times, and it can rise by 3 times again. Many people do one-shot transactions, and they always buy in with a full position, and then they set a stop loss line and a take profit line. Think about it, is it useful? Buy Bitcoin at 30K, stop loss 20%, and it will fall to 15K and then rise to 70K. What is the meaning of your stop loss... I can't buy low because I always think in a full-time way when I open a position, so I worry that it will fall as soon as I buy. Because I can't buy low, I can never get a larger multiple. Because of the full-time way of thinking, I always buy in with a full position, and there is no room for error in my pocket. The position pressure is high, and I am forced to watch the market every day and find all kinds of news to comfort myself. The more I watch, the more panicked and scared I am. Either I cut my losses quickly while I lose less, or I run away as soon as I get out of the trap. What a fart of money I can make...
In this round of bull market, we may have 4-5 opportunities for flash crash bottom-fishing and V-reversal, each time may be 3000-4000 dollars, each flash crash bottom-fishing, and then get a new high large band can earn 5-8% point increase bull market flash crash. Of course, you can also get on the train after a pullback at the end of September and hold it until the end of October. October is the last carnival of this year, and everything has just begun.
A word of advice: Catizen (CATI), a popular game on TON’s Telegram, is locked up and a large number of coins have not been unlocked. The possibility of pulling up the price to trick people cannot be ruled out. NOT and DOGS are fully circulated, and there are not so many twists and turns behind. I suggest that you just watch CATI and don’t play it!
4 Cryptocurrencies May Have 100-fold Potential to Grow!
1. GHOST
Aave, the native cryptocurrency of the DeFi lending protocol, tops the list of most noteworthy altcoins. AAVE’s price has increased by 23% over the past 30 days, making it one of the best performing altcoins in the past month. On the daily chart, the coin has formed an ascending triangle, which is a bullish chart pattern. Currently, AAVE is priced at $154.
Although the red candlesticks show that bears are trying to put pressure on the price, as long as the cryptocurrency continues to trade inside the triangle, it is likely to resist the downtrend. If this remains the case after the Fed announces a rate cut, the coin is likely to rebound.
2.FTM
Not many people are paying attention to this coin, but it has been performing relatively strongly in secret.
The chips are fully circulated and are currently undergoing a new upgrade, fully compatible with EVM. All rewards are for developers. There are several highlights that are likely to gain more hype at the narrative level:
Judging from the performance of the test network, FTM may become the fastest EVM-compatible public chain. From this perspective, whether it is the unissued monad, the daily-pulling sui, or the 70 billion sol, in comparison, the 2 billion ftm has a very good price-performance ratio, and can naturally enjoy the dividends of large-cap public chains - the more sol, sui, and monad pull the market, the faster this side, the smaller the market value, and the more top-level god orders the project consumes. If some more projects or memes explode on it, it is estimated that it will take off.
3.NEAR
NEAR Protocol has made waves in the crypto space with its focus on efficiency and scalability. Founded by Alex Skidanov and Illia Polosukhin, NEAR has raised a significant amount of funding to support its mission. The platform uses sharding to help developers build and launch decentralized applications more efficiently. It runs on a distributed network and is designed to be more scalable than traditional models.
NEAR features the Nightshade sharding solution, Rainbow Bridge for easy transfers to and from Ethereum, and Aurora, a layer 2 solution that enhances Ethereum’s capabilities. With the growing interest in altcoins, NEAR is likely to attract attention for its innovative approach to blockchain technology.
4.SUN
Although SOL's journey to 2024 is full of challenges and its value has shrunk by 40% since March, the price of $127 may become a key line of defense. The road to rebound may start from here. With its excellent scalability, lightning transactions and low cost, SOL is leading the first-layer blockchain track, attracting the attention of countless Web3 developers and NFT creators, and becoming the shining star of the Web3 ecosystem! Soon it will return to the position of $200 again!
