MARKET UPDATE - 18TH OCTOBER, 2024
Added 2024-10-18 08:26:52 +0000 UTCHello my friends,
Today marks the 4th day since BTC started knocking on the crucial green diagonal resistance. In the past, we had a trend confirmation within 3-5 days.
So far, we still donโt have a break out and a close in the roughly $71,000 zone. The only technical proof we have for now is that itโs doing now what it has done months ago (red square 1 and 2).
However, bulls have the month of October going for them, which historically has been the most bullish month in crypto. Letโs hope for the sake of our alts that BTC breaks out and alts follow, because the BTC dominance is at roughly 60% and if BTC crashes, alts will crash harder.
Either way, we wait. Main take is that this is the 4th day. In the past BTC rejected to fresh lows in 3-5 days. So soon enough we will know if the bullish reversal has been confirmed or bearish downtrend with lower highs and lowers lows continues. Remember that about two months ago, we lost a higher low on the macro. Historically whenever that happens BTC crashed 75% from the peak (not the lower low). If this time is different then itโs the first time that has happened in the history of Bitcoin.
We wait. I marked important zones and scenarios I expect with โ ๏ธ on the chart.
Hope everyone is well๐ค๐ป๐๐ค๐ป๐
PS: Leave a like so I know you were able to read the update and received notifications.
Comments
๐ค๐ป๐๐ค๐ป
Rob Art
2024-10-18 17:04:07 +0000 UTC๐๐ค๐ค
Maz
2024-10-18 15:19:39 +0000 UTCAppreciate your updates brother ๐ค
The man from Chicago
2024-10-18 15:12:24 +0000 UTCEchoing others?
Rob Art
2024-10-18 13:14:41 +0000 UTC๐ค๐ป๐
Rob Art
2024-10-18 13:14:25 +0000 UTCThanks for the continued updates!
Sherry
2024-10-18 12:39:26 +0000 UTCYes Rob, echoing others, but do keep the updates coming. We do not want to f this up!
Vip Solanki
2024-10-18 12:31:12 +0000 UTC๐ค๐ป๐๐
Rob Art
2024-10-18 12:26:28 +0000 UTCThanks Rob ๐
Annie
2024-10-18 12:21:45 +0000 UTC๐ค๐ป๐๐ค๐ป
Rob Art
2024-10-18 11:23:16 +0000 UTCKeep them coming. We need it right now. Thank you sir
JT
2024-10-18 11:20:35 +0000 UTC๐ค๐ป๐๐ค๐ป
Rob Art
2024-10-18 10:20:18 +0000 UTCI like your timely update very much.
massimo zizzola
2024-10-18 09:23:00 +0000 UTCAdded a little trias earlier at $3.29 got impatient. Biggest entries were around $2.50, just saw btc pushing through $68k and thought this could be it haha
Donkeymagic007
2024-10-18 08:36:47 +0000 UTC๐
Noynie
2024-10-18 08:29:50 +0000 UTC
