Master yOda

@mastery0da

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Everything is going according to plan. #BTC paused near the $93,000 level and managed to bounce back. Losing this level would have meant a significant correction into the $80,000 range. The growth has been so rapid and strong that there’s a gap below, which could lure the asset downward.

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#BTC Overview 👀 Currently, Bitcoin's outlook appears quite precarious, with numerous indicators pointing to the potential for a deep correction. Key factors include: A bearish divergence on the hourly timeframe that remains unbroken. The formation of a Head and Shoulders pattern (with the right shoulder slightly higher than the left). Price compression near the sloping support level. I believe the market needs a cooldown, making long positions on altcoins a particularly risky move at the moment! ⚠️

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#BTC.D Dominance and the Start of Altseason? The second most requested topic in our poll was BTC dominance (we’ll cover spot analysis tomorrow). Right now, the situation looks promising, as dominance shows no signs of slowing down, having already dropped over 2%. Liquidity is flowing into alts, which are currently on a rapid upward trend. Key support levels to watch are at 58.5% and 57.7%. It’s crucial for BTC dominance to break lower, ideally reaching around the 52% range (though 42% would be perfect, but that’s more of a dream scenario).

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#XCH is Preparing for a Recovery ✔️ #BONE - This coin shows a clear, arched resistance on the daily chart, which it must break through in the coming weeks to continue its upward trend. Currently, it’s overbought locally, so I wouldn’t consider long positions here. At most, a spot buy could be reasonable. #ATOM - On the weekly chart, ATOM is moving within a prolonged descending wedge. Honestly, I think this “fundamental” has played out and is starting to drag; its momentum post-bear market is too weak. #XCH - An interesting speculative setup here, as we’re seeing a Head and Shoulders pattern forming and a squeeze approaching the $14.45 resistance. Careful long positions might be worth considering!

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Are you ready for a 30% drop in your portfolios? I was reviewing my portfolio and realized that if BTC drops by 30% to around $50,000, my portfolio would shrink by at least 30%, and likely closer to 50% (considering BTC's dominance). Ask yourself, are you prepared for such an outcome? Will you be able to hold through a decline like that? The problem for many investors is a lack of patience. I've seen many who suffered big losses due to excessive worry about their funds and fear of the market. Personally, I've already accounted for this scenario and am fully prepared to ride it out. Right now, my portfolio is down 3%, or around -$3,000.

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BTC continues to decline actively despite the start of the weekend. We touched the 67,706.9 level, but managed to bounce back as the strength to stay above held up for now. However, will there be enough momentum for a full consolidation above this level? That’s the rhetorical question. The reaction to the 69,685.8 level is crucial right now. If we fail to break above it, a significant correction and a return to sideways trading (a channel) under the influence of bearish technical patterns may follow. Volumes have dropped significantly over the past couple of weeks, making this BTC rally essentially hollow at the moment. So, proceed with caution and avoid taking positions without confidence. Tomorrow, we will continue analyzing spot positions and may also review futures in search of potential trades.

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Is This a Reversal Signal? BTC couldn’t muster the strength for a new ATH and has pulled back to $70,500, though it still remains above the descending channel, keeping the potential for future growth and a return to ATH alive. Shorts are performing decently, especially in the altcoin sector. Over the next week, expect volatility due to the U.S. elections and the ongoing flow of daily updates (showing who’s leading, etc.). Right now, I recommend minimizing risk and avoiding trading. But if you can’t sit it out and feel compelled to trade, consider reducing your position size.

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#BTC The asset is steadily regaining its position. Currently, the market is preparing for another attempt to break out of the sideways and downward channels. BTC has moved slightly above and is holding in the $68,000+ range. Short positions are performing well, despite the market's short-term growth, while long positions aren’t faring as well. I have an open short on BTC that I’m not planning to close. This is already the third attempt at a full breakout from the downward channel, which likely won’t be successful either. A new workweek has started—let’s keep an eye on it 🖐

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Another gaming project, another listing, another scam. Yesterday saw the airdrop and listing of the gaming project X Empire (token X). The project distributed less than a hamster’s worth, which predictably sparked a wave of criticism on social media (about $10 per account on average). Many people complained that they even spent more on in-game transactions. The project’s chart overall still looks more or less stable, but given the audience's discontent, I don’t think that will last long. In any case, I don’t plan on buying into this project, as it’s just another tapping game among dozens of similar ones. Yes, you’re supposed to hold tokens to receive airdrops in other related games in the ecosystem, but that sounds laughable after such an “impressive” airdrop.

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#BTC The asset is attempting to consolidate above the upper boundary of the channel. At the moment, the market is fluctuating in both directions. Buyers are trying to push the asset above $70,000, but so far without success. I currently have two open positions – shorts on Bitcoin and Ethereum, which help diversify my spot positions. I’m not making any forecasts right now, as buyers seem strong and are handling the high resistance levels trying to push BTC back into the channel. However, subjectively, I don't believe in further growth. I'm not encouraging anyone to short the market; it’s better to simply observe or conduct your own research. Wishing everyone a productive work week and great spirits!

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#BTC The asset is closely approaching resistance at $63,000. Currently, the market has calmed down and is consolidating near the resistance level of $63,000. Some short positions have been stopped out at breakeven, while a few are showing excellent profits. At the moment, the HBAR position is up +100%, and the LINK position is up +50%, with stop losses set at breakeven for both. The WLD position is holding steady.

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Near I would avoid this asset on futures, and I wouldn’t buy it on spot at current levels, though I do hold it in my portfolio. If the price reaches around $3.5653, I would consider buying more. TWT A well-performing asset that is approaching resistance at $1.209. However, it’s risky to engage with it as there’s no clear confidence in further movement. I also wouldn’t consider buying it on spot. Mask I’m not a fan of this asset fundamentally, so I wouldn’t consider buying it. On futures, there is complete uncertainty, so I would prefer to pass on it.

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Let’s break down your coins: Ondo (Spot) Ondo is an American issuer of tokenized securities, making it a fundamentally strong asset considering the SEC trends. Currently, it moves in line with BTC. I wouldn’t add to my position at the moment, as the asset is holding up relatively well in the market. A good entry point for buying could be around $0.5850. If you already hold this position, I would wait until at least $1.20 before considering partial profit-taking. WLD I would consider shorting this asset. In fact, I might even open a short, as the potential for correction is significant (over 30%). I wouldn’t buy it on spot at all, as I don’t like this asset. A good stop level for a short could be at $2.1900.

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#BTC Asset Has Reached the 60,549.1 Level At the moment, the market has reached the lower part of the local consolidation zone and bounced off the $60,000 mark, indicating a reversal trend. There is potential for movement toward the 62,944.1 level, which represents approximately a 4% increase. However, the market is facing a lot of negative sentiment due to government actions and widespread fears. For example, the Chinese government has begun liquidating 542,000 ETH worth around $1.3 billion, which was seized from the Plus Token pyramid scheme in 2019. Around 7,000 ETH have already been transferred to exchanges. The U.S. is also selling off BTC, and major arrests have begun. We may potentially see a drop back to the $52,000 level.

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ZK: I would consider shorting this asset at current levels. We've reached a strong resistance zone around $0.13442, from where a downward move began. There’s potential for a correction of over 20%. I wouldn't buy this asset on spot for now either—I'd wait for lower levels. Mina: I wouldn't touch this asset, either on spot or futures. We're trying to stay above the $0.5181 zone. If we manage to hold, we might go against the market trend. If not, expect a drop of over 20%. STRK: The asset looks promising on spot at current levels. You can buy partially, but keep some funds aside to buy more if it dips. I wouldn't touch futures. Aevo: The situation is similar to STRK. EGLD: Long positions could be considered starting from the $24.340 area. Spot buys also look good at current levels. If you’re opening a long, set your stop-loss with some buffer to allow for potential squeezes.

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#ETH.D Dominance is Forming a Double Bottom Looking at the ETH dominance chart, we can see that it's reached a key support area around 14%. A reversal from this level within the next two months is quite possible (we have room for consolidation within the descending triangle until mid-November). It’s also likely that the rise in ETH dominance will coincide with a drop in BTC dominance, leading to a liquidity flow into altcoins and ETH. If you're wondering when the market might see growth, based on this data, it could be around mid to late November. We've entered October, which is statistically a bullish month, but history isn't always cyclical and doesn’t have to repeat itself.

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#BTC The asset is correcting at the start of the new week. The asset has begun a correction and is breaking out of the ascending triangle into a short position. The current scenario is unfolding exactly as I had described. Ethereum is also correcting, and even at a faster pace, as The founder of Cardano called the Ethereum blockchain a "dictatorship" (https://cointelegraph.com/news/ethereum-dictatorship-claims-cardano-founder-charles-hoskinson), where Vitalik Buterin has too much influence over the development of the decentralized network. Hoskinson also added that blockchains can either be created in a simple and decentralized way, like Bitcoin, or "choose a king" to govern everything, like Ethereum.

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MicroStrategy has purchased another 7,420 BTC. The company continues to increase its reserves in the world's first cryptocurrency. According to SEC data, the American software company MicroStrategy has invested an additional $458.2 million in Bitcoin. Between September 13 and 19, the main corporate holder of BTC acquired 7,420 BTC. The company's average purchase price per coin was $61,750. Notably, the purchase coincided with an additional stock issuance by MicroStrategy. Through the offering of securities, the software developer raised about $1.1 billion.

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BingX Launches a 5 Million USDT Airdrop 😱 Detailed information about the airdrop: Who can qualify: Users who either did not withdraw funds or made a net deposit ≥ 0 during the airdrop statistics collection period. *Additionally, to receive the airdrop, the user's net asset value must be at least 10 USDT, the user must complete KYC verification before 20.09.2024, and log into their account between 10.09.2024 and 19.09.2024. More details here: (https://bingx.com/en/act/template/7693/?randomId=5162796668&ref=48)

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The market is literally flooded with positivity. Just look at how many positive news items we've had recently. Today, we're expecting an interest rate cut, and just the other day, we learned that MicroStrategy will issue $700 million worth of bonds to buy even more BTC. Spot ETFs are showing positive momentum and are steadily gaining traction. In October, we might witness the "money printer" being turned on, with the stock market hitting new highs and pulling Bitcoin along with it. There's a noticeable shift in the news trend from negative to positive.

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