Bitcoin "Uptober" or "Rektober" Market.? Where to 53k or 43k???
Respected Traders,
Not hope i know for sure most of you guys are having a blast this weekend. Cant say the same about the bears. XD
So we have all successfully overcome the "Wake up when September Ends" song on repeat and now we are headed for "Uptober" or are we??
Update on last week:
So two things happened exactly as i planned out.
1. No weekly close below the Bull market support band
2. No wick down below 36k
So that confirms we are in a bull market. But i'm sorry to say my friends i have a really bad news for you all. In my opinion the push of BTC to 48k was really fast. Now we will be analysing the scenario of what happened exactly on those 15 minutes and i can think of just two things
1. Many people played with leverage 100x after 45k
2. Institutions and hedge funds just had orders right above it.
And both are really bad news for bitcoin. Why?
1. If people used leverage that means exchanges will flush you out before crossing 53k
2. If institutions pushed big money inside BTC when Stock market wasn't doing that well then that means they either fear the stock market crash or they just made quite a loss recently. Cause i can say for sure no big funds will buy BTC at this higher price and no company purchased BTC that i know of recently to pump the price up.
"News analysis"
So where are we headed for now. Tbh i really don't know the answer for sure. But what i can only tell you for sure right now.
1. Don't count Evergrande out just yet. A USA company can still default is what i believe. Next week will be the key moment so watch out.
2. Don't count that FED and the government is gonna solve the problem regarding M2 money supply that has inflated the USA stock market and created this giant bubble.
3. Debt limit crisis on October 18.
4. Celsius, Blockfi and Stable coins gets banned by government as they wanna regulate it all before ETF in december 2021.
These all factors above are bearish but
5. If government print that $1T coin we are going for "Blastober" meaning up and up.
6. Or if S&P 500, DJI perform great then too.
"Technical Analysis"
1. My chart suggest if we break golden pocket region of BTC with MACD bullish momentum then we go to 53k and then we spend the same amount of time as we spend on 48k
2. If went below 46.5k then we go below till 42.5 or 43k region cause people will be talking about bull trap and also stock market might be going down at that time creating lot of panic
"My opinion doesn't matter"
I believe we are going down to 36k but only if Stock market crashes as Robert Kiyosaki said. (famous author of "Rich Dad and Poor Dad" )
Till then happy trading my bulls and bears. I hope you guys are right and we see "Uptober" but my gut says no we are going to see "Rektober" cause everything from Stocks , Crypto to real estate and gold. Everything will fall apart this month.
Thank you
Regards
Dante. An artist in crypto.
Not hope i know for sure most of you guys are having a blast this weekend. Cant say the same about the bears. XD
So we have all successfully overcome the "Wake up when September Ends" song on repeat and now we are headed for "Uptober" or are we??
Update on last week:
So two things happened exactly as i planned out.
1. No weekly close below the Bull market support band
2. No wick down below 36k
So that confirms we are in a bull market. But i'm sorry to say my friends i have a really bad news for you all. In my opinion the push of BTC to 48k was really fast. Now we will be analysing the scenario of what happened exactly on those 15 minutes and i can think of just two things
1. Many people played with leverage 100x after 45k
2. Institutions and hedge funds just had orders right above it.
And both are really bad news for bitcoin. Why?
1. If people used leverage that means exchanges will flush you out before crossing 53k
2. If institutions pushed big money inside BTC when Stock market wasn't doing that well then that means they either fear the stock market crash or they just made quite a loss recently. Cause i can say for sure no big funds will buy BTC at this higher price and no company purchased BTC that i know of recently to pump the price up.
"News analysis"
So where are we headed for now. Tbh i really don't know the answer for sure. But what i can only tell you for sure right now.
1. Don't count Evergrande out just yet. A USA company can still default is what i believe. Next week will be the key moment so watch out.
2. Don't count that FED and the government is gonna solve the problem regarding M2 money supply that has inflated the USA stock market and created this giant bubble.
3. Debt limit crisis on October 18.
4. Celsius, Blockfi and Stable coins gets banned by government as they wanna regulate it all before ETF in december 2021.
These all factors above are bearish but
5. If government print that $1T coin we are going for "Blastober" meaning up and up.
6. Or if S&P 500, DJI perform great then too.
"Technical Analysis"
1. My chart suggest if we break golden pocket region of BTC with MACD bullish momentum then we go to 53k and then we spend the same amount of time as we spend on 48k
2. If went below 46.5k then we go below till 42.5 or 43k region cause people will be talking about bull trap and also stock market might be going down at that time creating lot of panic
"My opinion doesn't matter"
I believe we are going down to 36k but only if Stock market crashes as Robert Kiyosaki said. (famous author of "Rich Dad and Poor Dad" )
Till then happy trading my bulls and bears. I hope you guys are right and we see "Uptober" but my gut says no we are going to see "Rektober" cause everything from Stocks , Crypto to real estate and gold. Everything will fall apart this month.
Thank you
Regards
Dante. An artist in crypto.