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😡 By Friday, we were in a sideways trend, but I can't judge who will win the battle of bulls and bears. Looking at the chart, I can only say one thing - if the 94-95K level does not hold the price, then we will most likely go to test the 91K area again.
✅ Meanwhile, traders continue to call for an altseason. Leading Swyftx analyst Pav Handal said that for it to start, Bitcoin needs to make a significant breakthrough. According to Handal, altcoins will continue to alternate sharp rallies and pullbacks until Bitcoin breaks the $100,000 mark.
I am not sure about this assessment - further growth of Bitcoin will, on the contrary, attract additional investments, distracting attention from other coins.
What do you think? Should we expect an alt season in the near future?
Subscribers, please like the previous post, I would like to see the activity. As for Bitcoin, corrections of 1k-1.5k and jumps, nothing interesting in the market. $BTC
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Here we are, we went into the 66k range as I said, now everything depends on the news. But I would assume a touch to 64-65 due to Iran's strike during the US elections
Friends, I greet you all and wish you a good trading week!
😳 Regarding market forecasts, they remain unchanged since Friday. Either through consolidation at current prices or through the 63-65K range, we should go on to update the ATH. Tomorrow, we have the elections in the USA, and this event will be crucial for the crypto world.
❗️ Liquidations in the market have almost reached $350 million, when Bitcoin briefly fell below $69,000 — with only $259.7 million of that coming from longs, and $90.1 million from shorts. Thus, the price reacted to the probability of Trump's victory, which reached 67% on October 30, but decreased to 56% by November 3.
😮 After Bitcoin's price failed to reach its historical maximum, the market entered a sideways phase. This is a common occurrence, and it is a fairly good signal for us. It is clear that so far sellers are not in a hurry to part with the first cryptocurrency, and a quick update of the ATH is more likely than not.
❗️ But if I were you, I wouldn't rush to long right now. Very often, after a consolidation phase, the market briefly goes down to shake out the weak hands. Only then does it start to rise.
What I expect — a drop to the 66K area, and only then growth above the ATH.
What do you expect?
🔥 — growth from the current levels 👍 — growth through the 71K area 🤔 — drop below 70K
Thank you for 100 subscribers, I am glad that people read me and I hope that they at least listen to me and I help them earn or at least not lose funds. Hugging everyone! #followers #binance #square
😮 Joy in the market continues, and we are almost at ATH for Bitcoin. Next, we are waiting for a breakout of this resistance level and a rise to 80K. Of course, we cannot know where the price will meet the next major selling volumes after ATH. But in any case, a small correction would not hurt if we want to see the start of alt season.
❗️Ideally, for alt growth, the following conditions need to be met: Bitcoin rising above ATH, funds flowing into altcoins (which will lead to a drop in Bitcoin, a decrease in dominance, and an increase in the market capitalization of alternative coins), as well as the absence of negative news regarding the regulation of altcoins.
By the way, there are questions about the latter. It will be very interesting to see how the Republicans behave in the event of an election victory. They express positive views regarding Bitcoin, but does this apply to other coins?
What do you think?
🔥 — Republicans will push all crypto 👍 — Republicans will promote Bitcoin, but not other coins 🤔 — Republicans will follow the same policy as Democrats do now
😮 Bitcoin at 71K, bulls are excited, it’s a celebration in the market. However, not all altcoins have reacted with the same rapid growth and continue to stagnate. This is not a very good sign, as in the event of a pullback, these coins will also fall, and even more rapidly than Bitcoin.
❗️We did not receive a reaction from sellers after surpassing the 70K mark. The next global target is the update of ATH. Given the colossal buying volumes, this could happen even before the elections in the USA. But I suggest not to rush and to observe the price further—downward movements should not be ruled out.
What awaits us this week?
🔥 — ATH 👍 — drop to the 65K area 🤔 — consolidation at current levels
Friends, congratulations to everyone on the start of a new trading week and I hasten to share my thoughts on the market.
😮 After Friday's tide, the market recovered quite quickly, and there were not enough selling volumes to break through the important support level in the 65K area. This is just my guess, but further on I still see a move towards the 70K price, and from there we will most likely see a strong downward movement.
❗️ US spot exchange-traded funds (ETFs) on Bitcoin may reach a total of 1 million BTC this week, as traders expect positive changes in November. These factors include the US elections, a possible Fed rate cut, and lifting the ban on Bitcoin mining in Russia.
Such news is another signal of an imminent bull run. Do you think it will happen?
🔥 — yes, we are expecting intense growth very soon 👍 — no, a bearish trend is coming next
I'm watching it being pumped up and I think that something interesting will happen, the price is not too high, you can take it for a short period of time, spot trading is ahead!
🤨 Yesterday we encountered strong resistance in the 69K area, and as a result, a downward movement. Apparently, we will find support in the 64-65K area, and from there we will watch the reaction. Everything is going to the fact that the denouement can only happen after the US elections, which are just over 10 days away.
❗️An important point that few people talk about is that the US Congress elections will be held on November 5. Standard Chartered predicts that Bitcoin will grow to $125,000 by the end of this year if the Republicans get a majority there.