No wonder the market has dropped recently; Bitmine is engaging in false holdings, transferring 100 ETH to their address, pretending it was bought with BMNR, and can obtain their stocks with a 5% profit share. Those from South Korea are really bad, brothers!!!
So, which do you think is harder: getting into Qinghua or Beida or making money in the crypto world with A9???
BTC
Bitcoin is currently in the yellow band, suitable for continued holding. The last bull market peak reached the second red band; this round is expected to peak at the third orange band, around mid to late October, with a price range of 150,000-230,000. At present, 124,500 is unlikely to be the top, and the probability of a double top is also low. Conservatively estimating, around 150,000 may be close to the high point.
Yesterday, BTC performed weakly, breaking below the low from the day before, but the drop and trading volume were not large, quickly recovering after the drop, and the selling pressure is not strong. There may be a small rebound in the short term. There are no significant bottoming signals on the 4-hour and daily charts, and the price channel has not been reclaimed, making new lows after consolidation. If it reaches the D point of the shark pattern (around 114196), left-side traders can pay attention here; although it may not necessarily reverse, the probability of a rebound is high.
Today, pay attention to the 117500-118000 range; the volatility is small, suitable for small-scale speculation, and no big market movement is expected, as the bearish sentiment dominates at the 1h/2h/4h levels.
ETH
Ethereum's 4-hour and daily trends are not good, with little fund inflow over the weekend, leading to continued consolidation and decline. Spot and contract funds are flowing out (mainly from contract users, with a total outflow of 3.388 billion since the 15th), institutional buying has weakened, and during the consolidation period, it is easy to see a downward continuation. This week's closing may have a long upper shadow, and it will be difficult to challenge 4800 again, as no one wants to repeat the mistakes from four years ago. Trading will be very tough.
ETH at the 4-hour level has dropped below 4369, looking down towards 4330-4272. The ETH hourly triangle has been broken, the M head and shoulders neckline was falsely broken and then reclaimed. ETH cannot reclaim the interior of the triangle; if the bearish flag pattern is broken, ETH's real correction will begin.
Currently, I do not recommend casually going long on rebounds. The middle track is under pressure, and the downward target may be at 4330 or even 4160. If one wants to go long, I suggest waiting for the price to break through the middle track again and retest it without breaking before going long.
Altcoin
Altcoins are adjusting alongside mainstream coins, with a slight decline in indices and low market sentiment. Pay attention to BTC's market share and fiat trading to judge when retail investors may enter. You can position for the medium term or follow up short-term, but wait for liquidity to turn. Prioritize high market cap altcoins, as low market cap coins have not shown signs of a collective increase.
Pay more attention to the volume situation of ETH ecosystem coins; PENDLE is performing strongly, breaking out with volume, and can continue to hold. A new activity has launched on BSC, with frequent Alpha activities; you can earn Alpha points frequently, and there are many recent benefits worth participating in.
On-chain
Everyone has gone to play with OK's XLayerOfficial; the OK chain, backed by OKX, has recently gained popularity! To really catch fire, it needs several hot projects to attract funds. Now there are huge opportunities on the OKB chain, and explosive projects could emerge at any time. I am preparing for a focused layout; those who want to join in should hurry up!
The SOL chain's rebound only sees BELIEVE performing outstandingly, with market capitalization recovering to 1.4 million. To fight the dogs, one must follow the trends; having invested a bit in X Layer's $XDOG with 6 million is not too high when things really get going.
X Layer shitcoin memecoins are performing well, but the stability of the new platform is in doubt, and the SOL chain has a deep moat. It is recommended to focus on the leader $XDOG, supported by the official, with lower risk and maximum opportunity. If the market is hot, the leader will have the highest increase; if it cools down, the leader still has short-term opportunities, while other coins are likely to go to zero.
Also, don’t overlook the SOL chain; it's still the big brother chain of the shitcoins, and a big dog could emerge at any time to counterattack.
