Bitcoin is currently trading around the $68,000 mark after experiencing significant volatility this month. Open interest in Bitcoin derivatives has been rising, reaching $37.6 billion, which is close to an all-time high.
This indicates strong market engagement, although traders are split, with a slight majority (51%) favoring sell positions.Some analysts are optimistic that if Bitcoin breaks and holds above $66,000, it could trigger further buying and potentially push the price towards $74,000 in the near term.
However, resistance remains, and the long-short ratio suggests indecision in the market, so further price fluctuations are likely.For October 2024, projections estimate a potential range between $68,424 and $80,978 depending on market sentiment and trading activity. #crypto#BTCā #ETHETFsApproved #ETHš„š„š„š„
1. Risk Management is Key š”ļø Always manage your risk before entering a trade. Set a stop loss, and never risk more than youāre prepared to lose. š
2. Follow the Market š Let the price action guide you! Avoid emotional decisions and follow the marketās flow. Patience pays. š°ļø
3. Avoid Over-Leveraging š„ High leverage is tempting, but it can wipe out your account. Stick to manageable levels to protect your capital. šø
4. Stay Informed š° Keep up with news, updates, and changes. A well-informed trader makes smarter moves. š
5. Profit is Profit š° Donāt wait for massive gains. Take profit along the way to lock in growth over time.
This chart shows a potential bullish breakout from a descending trendline, suggesting that NEIRO might be ready to reverse its recent downtrend.
Key Levels to Watch:
Support: Strong support is holding at 0.0015188. Below this, the next level is 0.0013889.
Resistance Targets: If the breakout continues, expect resistance at 0.0018140, with higher targets at 0.0019585 and 0.0020892.
Fibonacci Insight: The price is near the 0.5 Fibonacci level (0.0018459), which could act as a pivot point for further gains. Breaking through here could send NEIRO to 0.0020892 or higher.
Bullish Scenario: If this breakout holds, we could see a move to 0.0023405. Watch for confirmation from volume and market sentiment.
Manage your risk by placing stops just below 0.0015188, and keep an eye on how the price reacts at these key levels. This setup offers an exciting opportunity for a potential upside! #neiroonbinace #neiro #NEIRETH
The chart shows a descending trendline that has been tested multiple times. The price is currently consolidating below this trendline, indicating bearish pressure. A break above the trendline would signal a potential bullish reversal, while rejection here might lead to a further downside.
2. Support Zones:
The first major support is at 24.20, which has been tested before and could act as a bounce zone if the price dips.
The next critical support is at 18.58, which would be a key area to watch if the price breaks below 24.20.
3. Resistance Zones:
65.67 is the first major resistance level, aligning with a previous high. This could be a target if the price breaks the trendline and starts moving upwards.
78.38 and 85.20 are the next levels to watch if the upward momentum continues after 65.67, but these seem further off based on current price action.
4. Price Action Summary: Currently, ORDI is consolidating below the trendline. If it breaks above, it could trigger a bullish momentum toward higher levels. If rejected, we could see a test of the lower supports at 24.20 and 18.58. Keep an eye on volume and confirmation before entering a trade.
Absolutely nailed the JTO USDT trades on both MEXC and BYBIT! š +100.98% ROI on a 20x long on MEXC, and +46.38% on a 10x long with BYBIT! š Hit TP perfectly and the price bounced back, exactly as planned. Patience, strategy, and execution. Keep pushing for those gains! #Crypto #TradingSignals #PriceAction #JTOUSDT #JTOš„š„š„ #JTOONFIRE #JTO_USDT