In the current market segment, both veterans and newcomers feel fear and extreme confusion!
Predictions of $BTC’s rise and fall will only serve as bait for MM (market manipulators).
We have worked hard to hold on to the market through the severe down season, why give up now?
What is the reason for giving up? If you sell now and have a reason to switch to other assets, then switching is fine. If you don’t sell, you don’t know what to buy to make up for the loss. So if you have already bought, just sit back and wait and see.
The rise and fall of the coin price is normal. After falling by 50%, it will rise again. I say this, and many people who have experienced the bull market may understand it, because before the peak season, the coin price was also severely differentiated, which eventually forced everyone to stop losses. Then after the peak season, everyone hopes to maintain their positions and status.
Because we always have the concept of wanting to buy at the lowest point and sell at the highest point, don't force yourself to do this, because it is stressful and difficult to achieve.
You must stay calm and keep a clear head when investing so that you can deal with problems. Panic will only lead to stop losses and selling bottoms, nothing more!
Will we see BTC hit $63,000? The Fed will release inflation data tomorrow at 02:00 AM. All you need to do today is stay safe, let’s find out
➣ Insights from the Federal Reserve meeting
The market expects the Fed to maintain current interest rates. Inflation data will affect the Fed's future interest rate decisions, and lower inflation may mean lower interest rates.
If we see slightly higher-than-expected data, we may see more red action as this is negative for cryptocurrencies, stocks and other assets
➣ DXY and market impact
The US dollar index is rising, indicating a bearish trend in the market. A stronger dollar index usually means a weaker cryptocurrency market and vice versa.
Considering this breakout, we could see more red action if the rally continues.
➣Bitcoin price analysis.
$BTC is showing bearish signs and could break below critical support levels.
Key support is between $67,000 and $68,000, and a close below $67,000 could signal further declines. Recent net outflows from Bitcoin ETFs have added to selling pressure. If support holds, watch for a rebound, otherwise, expect a drop to $63,000-64,000
➢Ethereum and altcoins
Ethereum has fallen below the critical support level of $3,600-3,650 and is now targeting $3,450.
ETH/BTC remains bearish and underperforming Bitcoin. If $3,450 fails to hold, the next major support is at $3,300.
A similar trend is expected in the altcoin market, but internal factors have a strong influence on low market caps.
Pay attention to their updates and make your buy or sell decision
➢Use $LINK to track the rise of altcoins
Before every altcoin rally, I usually check $LINK’s chart to get a feel for the timing - right now $LINK is in a range accumulation phase, ready to move higher, and will likely lead most altcoins in future rallies!
In the bull market of 2021, $LINK is the leading altcoin, which also means that $LINK has created its first peak.
Use $LINK to track altcoin gains => This is one of many factors to consider when buying and selling altcoins, and it's pretty accurate!
I think the chart of $LINK is very similar to the previous bull run, which also formed a trend of range accumulation and pulling up altcoins. This time should be no exception!
After you go through a round, you will understand - sometimes picking up some small factors will increase the accuracy when you need to make a buying or selling decision!
The most obvious thing was that on September 23, $LINK took off first, and then the altcoins took off!
