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10/2 Friday will decide your crypto fate.Overview: The AMEX:SPY opened lower than yesterday's close, continuing its bearish trend, but managed to recover and end the day in the green. However, the MACD on both the daily and 4-hour charts shows a bearish divergence, indicating potential weakness ahead. Tesla took a significant hit, dropping by 3.5% and ranking among the day's biggest losers. NASDAQ:QQQ also saw a decline, though less severe, as it isn’t facing the same pressure from all-time highs as other sectors. Tomorrow, the FED will release the latest initial jobless claims data. If claims come in below the expected 220,000, this could indicate an improving labor market, which would make it harder for the FED to aggressively cut interest rates. So, if you want that rate cut, maybe submit that jobless claim! BlackRock ended its 7-day Bitcoin ETF buying streak, selling $13.7 million worth of Bitcoin today. This is roughly half of the largest amount they have sold in one day, which was $38.9 million. BTC TA: W: The situation remains unchanged from yesterday. BINANCE:BTCUSD is still sitting below critical levels that could have shifted the trend to bullish. Geopolitical tensions and a strengthening U.S. job market are likely to keep the weekly candle in the red. D: Wednesday's candle formed a red doji, with both the open and close below the crucial $61.4k weekly level. Early Thursday price action briefly touched this level before pulling back, confirming it as a resistance. The MACD and RSI are still working through the aftermath of the divergence seen during the bull trap, showing no signs of trend reversal. A short-term pullback to the $62.5k-$63k level is possible but more evident on lower timeframes. Neutral. 4h: RSI is in the oversold zone, and the MACD histogram shows the downtrend is losing momentum. It took significantly less volume to push the price lower to $60k, suggesting a potential short-term bullish move toward the BB MA at $62.5k. 1h: London traders triggered a mass sell-off in the last two hours, pushing BTC down 1.46% and rebounding from the $61.4k resistance level. Have you copied these key levels to your chart? The next question: Will $60k hold, or will it break in the next few minutes? Alts Relative to BTC: Major altcoins like SOL, NEAR, and ETH have all broken their lows and are heading toward their early September levels. TAO and FTM, which performed well last week, are not immune, declining by 7%. Only SUI is holding steady for now, but for how long? Bull Case: If Jerome Powell reports on Friday that inflation has cooled, it would confirm a slowing economy and pave the way for further interest rate cuts. This could spark the 6th bull wave, sending crypto prices soaring once again. Bear Case: This week could continue to see prices fall further, potentially marking the end of the 2024 crypto bull run. Fear and Greed Index: The index stands at 36.22, well into the Fear territory. Historically, when the index dips below 40, it's a signal to start buying some blue-chip altcoins, even if you're a day or swing trader. We recommend having a separate account for long-term investments. Remember: Be greedy when others are fearful. Prediction: If we can dodge the bullet of World War III and the market remains unaffected by major macro events, we could see a correction to the $62.5k-$64 k level. Opportunities: Short the last standing king of altcoins - SUI.
COINBASE:BTCUSD
by EvgenCapital
BTC is a victim of liquidity problemsMorning folks, So, we've planned just perfect last time, and BTC actually has dropped but much faster than we thought. It was not even able to form the right arm of H&S pattern and collapsed. But don't search the explanation on cryptomarket. The reasons are more pragmatic - short-term liquidity fall in the US. First is BofA collapse yesterday, then SOFR rate has jumped above RRP. Sea ports are under strike, which also bring a mess in mutual relations of all counterparts. So, current BTC drop is a pure run into liquidity. We do not know when it will be over, hopefully soon. But now we do not consider any longs and prefer follow to the market and see what reaction will be around strong support areas. Next one is 58K
COINBASE:BTCUSD
by Sive-Morten
Next Volatility Period: Around October 5th - 10th Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost" as well. Have a nice day today. ------------------------------------- The BW indicator is currently leveling off near the midpoint (50). Therefore, I think it is not suitable to trade around 60672.0-61099.25. If you want to trade around 60672.0-61099.25 depending on the support, you will need a short and quick response. - When the BW indicator is leveling off at the lowest point (0) or highest point (100), a BW line is created on the price chart. I think you can trade more stably by using this BW line as a support and resistance point. Therefore, you can wait until the next BW line is created or check whether it is supported when touching the previous BW line (61759.99) and then trade. At this time, the StochRSI indicator is also worth looking at. Since the StochRSI indicator creates waves in any case, I think it is an indicator worth referring to when trading. Therefore, - If the StochRSI indicator rises in the oversold zone and maintains the state of StochRSI > StochRSI EMA, it is a time to buy, - If the StochRSI indicator falls in the overbought zone and maintains the state of StochRSI < StochRSI EMA, it is a time to sell. However, you should be aware that since you cannot know the size of the fluctuation range, you may see little profit or even a loss. To prevent this, you need the support and resistance points drawn on the 1M, 1W, and 1D charts. Based on these support and resistance points, you should proceed with the transaction depending on whether the movement mentioned above is supported or not. Then, since you can calculate the approximate fluctuation range, it will be a reference for deciding whether to proceed with the transaction. Accordingly, if you display the rise and fall range based on the 60672.0-61099.25 section, it will be as shown in the chart above. - When a new candle is created, - Whether it will definitely enter the oversold section - Whether there is a change in the slope of the StochRSI indicator - Whether the StochRSI EMA falls below the midpoint (50) You should check whether the above is satisfied and create a response strategy according to the next movement. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture It is expected that the full-scale uptrend will start when it rises above 29K. The next expected range to touch is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (overshooting) 4th: 134018.28 151166.97-157451.83 (overshooting) 5th: 178910.15 These are points that are likely to receive resistance in the future. We need to check if these points can be broken upward. We need to check the movement when this range is touched because it is thought that a new trend can be created in the overshooting range. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
BTC/USDT Short term long📈 BTC/USDT Analysis Update The market just touched the bottom, completing wave 5 🔽, but it was very short, almost truncated ✂️. A bullish divergence formed on the 1H chart 🐂📈, and we saw a nice bounce. Currently, the horizontal resistance has been reclaimed, turning it into a support flip 🔄. 💡 Target for this move should be somewhere between the 0.5 - 0.65 Fib levels, which range from 63,300 USD to 64,500 USD. However, the major resistance remains the light blue diagonal trendline ⚠️, along with the yellow resistance line at 61,900 USD. 🚨 Not financial advice!
BITSTAMP:BTCUSDLong
by RhinoAkaBear
BITCOIN The 'March-October' effect kickstarting an insane rally.Back in August we were first to discover and bring to you the 'March - October' effect (see chart below) on Bitcoin (BTCUSD), which is what every one is talking about now as we've started the month of October yesterday and the final quarter (Q4) of the year: As you can see, this is nothing more than a consolidation that the market tends to make within this 6-month range that ends on October, which kick starts an aggressive rally. That was the case in 2020 (would be more flawless if the COVID crash hadn't distorted the chart) and more recently in 2023. Note that historically October shows gains of around +21.00%. What we can additionally keep from this chart is that the 1W MA50 (blue trend-line) held on three 1W candle tests since the August 05 Low and that provides the base for a potential October 2024 - March 2025 rally. March 2025 has high chances of forming the peak of the rally as it historically tends to tops such Bullish Legs and then starts consolidation phases. That was the case on March 2024, March 2023, March 2021 and (as mentioned) if it weren't for the COVID flash crash, would have been most likely the case for March 2020. All in all, even though the first two days haven't been ideal, we expect October to prepare the foundation for an incredible rally, especially on its last 2 weeks, a rally that might very well reach as high as $150000 before it enters a correction again. But what do you think? Will October start such a rally? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
8
BTC Update (2H)On small time frames, Bitcoin is a bear. A liquidity pool has been swept but the price has not yet reached cheap ranges. Considering the bearishness of the substructure and the price not reaching the main support range, we expect such a movement from Bitcoin Closing a candle above the invalidation level will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
1
AR Long Spot Position (Support Entry)Market Context: AR has retraced to a significant area of support between $18.00 and $20.00, creating a favorable opportunity for a long trade. This setup looks promising if the support holds. Trade Setup: Entry: In the current $18.00 - $20.00 area of support. Take Profit: First target: $24.00 - $26.50 Second target: $32.00 - $35.00 Stop Loss: Around $16.00. This trade aims to capitalize on the bounce from support, providing a structured risk-reward profile. #AR #SupportTrade
Long
by Richtv_official
Corrective Phase and RegainOur current outlook for Bitcoin suggests that, over the coming days, the asset may experience a short-term correction down to the key support level of $59,500. This level has previously acted as a significant zone of buying interest, and we anticipate it could serve as a strong foundation for Bitcoin to establish new upward momentum. Such a correction would allow for consolidation, enabling market participants to accumulate at a lower price point, which often leads to a healthier and more sustained uptrend. Following this corrective phase, we expect Bitcoin to regain bullish momentum and start a new upward move. The initial targets for this movement are projected in the range of $64,000 to $66,000.
by MonoCoinSignal
Bitcoin Drops Over 10% After Rejection at $67,000Market Update: In the last few days, Bitcoin's price has dropped by more than 10%, following a rejection at the $67,000 level. BTC has now fallen to the critical support area at $61,000. Technical Outlook: The market is currently oversold, and there is potential for BTC to rise and test the next resistance level around $64,000. It is crucial that the $61,000 support level holds, as a break below this area could trigger a deeper decline, with the next lower range support around $57,000. #Bitcoin #BTC #CryptoUpdate #SupportLevels #Oversold #BTCPriceAction
by Richtv_official
Bitcoin: Uptober or Rektober?Traditionally, October has been a very bullish month for Bitcoin. However, in its first few hours, this October brought Bitcoin a sharp sell-off of almost 9%. The largest cryptocurrency not only lost the important $65,000 mark within a few minutes, but also temporarily fell back towards $60,000. However, we do not expect this sell-off to end any time soon. After all, we expect a final lower low of the orange wave iv before the same-colored wave v should lead to new all-time highs.
BINANCE:BTCUSD
by MarketIntel