The market finally breathed a sigh of relief after the mysterious short whale recently closed his position. Bitcoin's 4-hour chart remains strong, not falling below $100,000, and has found support again around $106,000 in the past two days.
Overall, I remain optimistic about the market in the next two months - the decline is limited, and the rise is unlimited.
10.23 morning market analysis:
Bitcoin: BTC is essentially holding steady, with strong support from below. Market activity often begins to take off when confidence is at its lowest. The spot market remains bullish, so blind investment is not recommended.
Ethereum: ETH remains trapped by the downward trend line, but the 3800 support level is holding firm. A short-term wait-and-see approach is recommended, but it's not recommended to invest in the market. A conservative approach is to wait for a breakout above the trend line before investing.
Altcoin sector: Funds are moving, with a focus on Alpha and BSC ecosystems
Alpha has been a hot topic lately, and it's worth keeping an eye on. Currently, the BSC chain is buzzing with memes and Alpha, with significant capital being invested in this area.
At the same time, the number of new projects on the chain has increased in the past two days. It is recommended that everyone allocate positions reasonably and give priority to leading projects and low-market-value high-quality targets with fundamental support.
LINK: A true “out-of-the-box”
Whales accumulated 13 million LINK last week, and LINK founder Sergey Nazarov will speak at a conference this week - this means that traditional finance has begun to take LINK seriously.
There are only a handful of crypto projects that can make it onto this kind of stage. Apart from BTC, ETH, SOL, and BNB, there are almost no altcoins that can do so. It is for this reason that LINK's strength is logically supported.
SOL: Once a breakthrough occurs, a "slingshot effect" may occur
Currently, the market is concentrated around $184.9, $186.8, and $188.7. Once SOL breaks through these levels, it will trigger a chain reaction, and the market may be reversed - the short-term market may experience sharp fluctuations.
JTO: With a16z's support and a buyback mechanism, there may be big moves in November
JTO has recently been receiving positive news: a16z invested $50 million, the project announced that 100% of network revenue will be used to repurchase tokens, and new cross-chain developments are being prepared. A wave of major events is expected in early November, so it's worth keeping an eye on.
Summarize:
A market recovery isn't confirmed by a single green candle, but rather by a series of signals emerging one after another. Bitcoin holding above $100,000, ETH holding support at $3,800, capital inflows, and key projects gaining momentum all indicate that market confidence is slowly returning. I remain firmly bullish for the next two months.
- Don't forget, the market always starts to reverse when it is darkest.
The opportunity is gone in the blink of an eye, darlings, gather quickly!
Don’t let hesitation delay the best opportunity to make a fortune, and don’t be cut into pieces by air coins. Follow Sister Miao and have fun in this bull market!
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