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Bitcoin quickly fell below $70,000
The market situation has verified my conjecture on the 30th. This drop has already scared away the bulls, and Ethereum has led the altcoins to collapse, without a doubt, the recent big drop is the opportunity to buy the dips and increase positions.
It has risen so much, a pullback is very normal, and it has completed the 1:1 extension target of a major level.
How to look at it next?
I rarely do the intraday fluctuations of a few hundred points, now that the coin price is so high, earning 300 points is less than 0.5%, if you need someone to guide you to earn 1%, you might as well guess the coin. The key is to talk about the structure, the position worth betting on, of course, is around the structural breakdown point. If you can wait, wait, if you can't wait, continue to short, of course you can also look at the intraday structure, from this round of the market, how many people feel that the trend return is greater than the intraday return, raise your hand. If you claim to be a friend of time, do trends, do structures, and still need to watch the market every day, how can you do trends, how can you do structures.
Today, the non-farm payrolls and unemployment rate will be released with a double five-star, the UK will cut interest rates next week, the US will cut interest rates, and the US election will be determined.
Non-farm payrolls and unemployment rate release
The non-farm payrolls are too far off from the previous week's value, the Fed is playing tricks
Bullish, BTC will still surge to around $72,000
Bearish, BTC will still have a needle insertion and is expected to reach 67-68
US election determined on the 5thHarris elected, BTC will pull back, Trump elected, BTC will surge and then have a deep pullbackInterest rate announcement in the UK on the 7thUnexpected 25BP rate cutFed interest rate announcement at 3am on the 8thThe biggest impact after the election, a set of data for BTC, if it cuts 50BP, cryptocurrencies will generally have an upward surge, focus on ETH, no cut will be the opposite, a 25BP cut is a pre-digested bullish factor, then it will retestUnnoticed, the fourth Bitcoin halving has been half a year, how much opportunity do we have left!For many newcomers, it may not feel very strong, but just look at the chart, you can clearly feel that the volatility of Bitcoin is gradually weakening.
Wealth code
» ￥TAOTopping the DePIN Altcoin list is Bittensor, which is an open-source protocol that provides support for a blockchain-based decentralized machine learning network. Bittensor's native token TAO has fallen 15% in the past 30 days, trading at $510.86. At some point this year, the value of this Altcoin was close to $800. Therefore, the recent decline suggests that TAO may offer a buying opportunity.
On the daily chart, the price of TAO is below the 20-day exponential moving average (EMA) (blue). However, the token has not yet fallen below the 50-day EMA (yellow). On the surface, it is unlikely to break this threshold, indicating that the price of TAO may surge to $681.85 in November.» ￥LPTLPT is the native token of the blockchain-based streaming network protocol Livepeer, and is one of the top DePIN Altcoins that investors may need to focus on in November 2024. One reason investors should pay attention to it is that it is one of the few Altcoins with a Grayscale trust. Although the price of LPT has fallen 25% in the past 30 days, it may replicate the performance of Altcoins like Sui (SUI), which performed well after being added to Grayscale. From a technical perspective, the bulls have defended the $10.68 support level on the LPT/USD daily chart.
From this rebound, the value of Altcoins may continue to rise until November. If there are no obstacles, the price of LPT may break through the $11.84 resistance and rise to $13.27. In a highly bullish scenario, Altcoins may surge to $18.» ￥SUISUI has rebounded strongly, how has it developed this year? At the beginning of the year, SUI officially launched its mainnet, which was an important milestone, marking its transition from testing to actual application. The mainnet launch attracted a large number of developers and investors to pay attention, and also gave it its own ecosystem. The number of decentralized applications and projects on the SUI network is gradually increasing, especially some meme and DeFi applications performing well. These new projects have enhanced the appeal of SUI and brought more users and developers into its ecosystem.
The SUI chain first attracts users with TVL, then retains users with DeFi and game projects, and finally expands the user base with MEME, and its ranking has also risen to the top 20, which is indeed very eye-catching compared to the performance of APT, another MOVE project.A person is lonely, and the shrimps need to walk together. The bull market has arrived, welcome everyone to join, walk hand in hand, and not let down this round of the bull market, welcome everyone to add WeChat: mcty689, and send a message to join the group!
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