This wave of rebound has finally arrived!

Bitcoin has surged and successfully broken through 120,000, crushing the shorts, and the smell of the main upward trend is becoming stronger. Some small-cap altcoins can no longer hold back, easily doubling in a week, officially kicking off the altcoin season.



Ethereum and BNB are also closely following; those who catch up with the rhythm of the little cat during this holiday are enjoying it immensely.

Original article review: ETF + interest rate cuts + new narrative: Will the October market become a watershed for a bull market? Has BTC and ETH reversed? BNB, SOL, and DOGE are still strong!

Mainstream leads the charge, while the knockoffs follow closely behind?

In the past week, I have been emphasizing #SOL, #SUI, #Pengu, and #BNB, which are currently strengthening as expected. With the October market arriving, it's a direct recovery.



The effect this year is actually quite limited, concentrated in a few mainstream coins, especially platform coins. ETH and BNB have reached new highs, and OKB has skyrocketed six times in less than ten days. This means that large funds still prefer top-tier assets, while the vast majority of altcoins have long lost their 'wealth creation ability' due to lack of inflow.


Many people do not wish to run; instead, they have already suffered losses and cannot exit.

In terms of altcoins, new coins are constantly emerging, market liquidity continues to decrease, and there is even a lack of follow-up in rising prices and active declines, with many continuously hitting new lows. Now, apart from mainstream coins, there isn't much left to play with new coins after 1-2 rounds.

Now, let's return to the Bitcoin chart:

From a technical perspective, the trend of Bitcoin is very healthy:

  • The daily MACD golden cross has just formed, crossing the zero line, indicating that the main upward wave has just begun.

  • Among multiple indicators, there are as many as 18 buy signals and only one sell signal. The data platform even directly gives a 'strong buy' rating.

  • In terms of patterns, Bitcoin has formed a solid W bottom, with a theoretical target around 128,000 USD.

In the short term, buying on dips remains the main melody. If a breakthrough occurs and then returns to the neckline, it will be an excellent opportunity to enter.



It should be noted that there may be a false breakout risk at the 124,000 line. Those seeking stability can consider observing around this area first. Once a breakout is confirmed, they can switch back to altcoins for a rebound.

The actions of on-chain whales also confirm this point.

The well-known whale Spoofy has been continuously increasing positions during a previous sell-off. Even with Bitcoin soaring, there has been no reduction in positions, indicating that they expect an even higher exit target.

Historically, Bitcoin's average increase in October is close to 20%. Starting from 110,000, the theoretical target price is around 132,000.



When Bitcoin breaks through its previous high, the second brother ETH and the third brother SOL will naturally not stand still.

Especially for SOL, the approval of a spot ETF in mid-October is a strong stimulus, and breaking 250 is just the beginning, with a chance to challenge the historical high of 290.



Returning to Dogecoin, there is strong resistance around 0.32. I started building a position at 0.19 in July and August. The last time it touched around 0.3, it didn’t run, waiting for my target at 0.4. Afterward, it began to consolidate, and I will choose to reduce part of my holdings around 0.32, continuing to observe the market reaction.


The rebound direction for altcoins remains SUI, Pump, and Pengu. Their strength and elasticity far exceed market expectations.

Lastly, let's talk about the macro news: the 'last wave of dividends' from the interest rate cut window.

The macro environment is also favorable for the market.

On October 30, the probability of interest rate cuts approaches 99%. There is a high probability of another cut in December. Historical patterns tell us that the best window for the cryptocurrency market to rise is around interest rate cuts.



But be aware that the probability of interest rate cuts in January next year has dropped below 50%, meaning all stimulus will basically be exhausted by early December, and the market may enter adjustment afterward.

According to Elliott Wave Theory, we are currently entering the final phase of the fifth wave, and there may be an ABC correction after December, which is also a potential 'top escape' time point.

📍Don't panic, don't be timid, don't be empty.

The main upward wave of this market cycle has just begun. Those who were left behind are now anxiously experiencing FOMO; while those who boarded in advance can just relax and watch the show.

Article recommendation: Altcoin collapse = market end? Wrong! The crash is just a prelude; are the main players laying down a 'golden pit'? ETH, SOL, PENGU, BNB's next wave may already be brewing!

Let's stop here for now! If you are still unclear about the direction in the cryptocurrency market, it might be better to plan with me. Waiting for you, otherwise in the next wave of market, you might be the one standing on the other side.

For more altcoin analysis, follow Lao Chen $BTC $ETH #比特币ETF资金流入激增 .