Good Night, Crypto Community!
We closed the day strong with #BTC. Despite a failed retest at $68K, I believe the Asian bulls can push prices higher during their session. Altcoins are on the verge of a breakout, with #APT already nearing its resistance level and poised for a potential surge.
Donât underestimate the altcoin market! đđ€đ»
Analysis: BTC 10/21/2024
Yesterday marked a second attempt to breach the $69,500 blue band, but we faced rejection and have since fallen below this level. This drop coincided with a movement of over 32K #BTC, causing market jitters. However, it appears this transfer may have originated from Robinhood rather than a major sell-off by a big player.
Ultimately, as long as the bulls can maintain $66K as support, the bullish outlook remains intact, with a greater likelihood of reaching $73K than falling to $44K. With the upcoming US elections, expect increased market volatility, which can be challenging for newcomers.
Despite a bearish push at the start of the week, the overall trend remains positive. Currently, BTC is supported by the 50 EMA on the 4-hour chart. A reaction from here or slightly lower is crucial for reclaiming the blue band.
Weâre also witnessing significant accumulation by large whales and new institutional buyers entering the market. As this new capital flows in, the potential for an unforgettable bull market becomes clear. For now, only late longs are feeling the heat, so stick to your strategy and consider buying promising altcoins!
If you have questions, feel free to reach out via my Insta (link in my profile).
Disclaimer: This post includes third-party opinions. Not financial advice. May contain sponsored content. See T&Cs.
