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Petition to rename: “Rektember” to “Uptember” and “Uptober” to “Rektober”.
The market won't be full on easy mode, until #Bitcoin is back in price discovery and $BTC Dominance stops skyrocketing. For most market participants, it would be best to just sit tight until that point.
The Chinese Stock Market has been exploding since the Government announced all the Stimulus they will be doing. Might not be a bad idea to start paying more attention to the China/Asia coins if the market bounces Here's the list I got from the last China narrative back in 2023.
#Bitcoin October off to a rocky start. Especially looking at altcoins. Regardless, October and Q4 are historically speaking the times when BTC shines most. The election is 1 month out which will definitely stir things up as we've never been so attached to its outcome as market.
#Bitcoin Failed to hold on to the Daily 200MA similar to August when it traded above it shortly. Price is now testing the Daily 200EMA.
#Bitcoin Range deviation? Or bearish retest? If BTC can get back above this level I'm assuming this was a big deviation/flush out on top of FUD and liquidations. That'd set up for a move to 64.5K+ next in my opinion. But so far it's still just testing this level. Needs to break…
#Bitcoin Held the 4H 200MA as support. Currently sitting consolidating between that and the 4H 200EMA. These are a good gauge of short to mid term momentum and strength. You can see how during the move down in August/September, these were tested and rejected several times.
$EIGEN Market Cap = $667M $ZRO Market Cap = $485M Both combined would barely make it into the top 100 coins sorted by market cap. Yes, both do have much higher fully diluted valuations which will eventually matter. But without any major investor unlocks until Q2/Q3 2025, I…
$OM One of the few coins that is ignoring all the chaos and grinding higher steadily. As long as the trend remains up and we hold above $0.95 on the higher timeframes, I remain bullish.
#Bitcoin The massive spot buy wall got pulled. It's often very subjective how to interpret these things as: - We don't know what the intend of the wall was. Push price up to fill sells higher? Intended to get filled? - Generally these walls support price somewhat which is…
#Bitcoin Large spot buy wall over at the ~$60K region. $100M might not seem massive at first glance, but considering it's on spot that's quite a lot. The wall was put there as the market started bouncing post war fud/news.
This month's upside has primarily been driven by the US & EU sessions. Finally they go hand in hand 🤝 The APAC sessions have been a bit lackluster but also not extremely bearish either.
The recent sell off has caused $1B+ in Open interest to be wiped on #Bitcoin. $ETH lost about $650M in OI. Most other alts also lost 5-10% of their respective Open Interest. Meme coins got hit especially hard, retracing the entire recent move.
Did $EIGEN solve the war and bargain a peace treaty? In all seriousness, if it can sustain a launch like this throughout all this chaos, that'd be very solid.
#Bitcoin Most of the thick liquidity clusters in nearby proximity below was taken out below $62K. Not that much surrounding price here which is any close. Expecting volatility to remain high for a while.
#Bitcoin Testing the 4H 200EMA & .382 Fibonacci retracement from this leg up. Interesting spot to watch in the short term. Market heavily event/news dependent currently though so although these levels can give decent support, where this goes next will depend on the news as…
And that is exactly how September went. I mentioned how in absence of any new narrative, I'd expect the previous outperformers, being AI & Memes, to outperform again on the initial bounce. In the chart below you can see how these two sectors were the dominating ones by a mile.
See you all the 5th of October to bid the monthly lows again. 🫡
$ETH Trading range to watch ️
$UNI One of the interesting (election) bets. IF a fee switch proposal is activated, that would instantly reprice this token to much higher valuations. I think a favorable regulatory environment post election would definitely help in that regard. Chart not looking bad either.