JRod

The world is still in the beginning of the new era of cryptocurrency revolution. Everyone can now make use of this moment and protect themselves.

Bitcoin Uptrend Bias for the Next Week from 7th to 15th of October 2024 I’m bullish on Bitcoin for the next week based on several key factors: 1. Institutional Inflows: Recent data shows growing interest from institutional players, with consistent inflows into crypto funds, which often precedes upward price action. This suggests strong confidence in Bitcoin’s medium-term growth. 2. Macroeconomic Factors: Ongoing global uncertainty continues to push investors toward Bitcoin as a hedge against inflation and fiat currency risks. Rising inflation, especially in key markets, could drive further demand. 3. Technical Analysis: On the charts, Bitcoin has formed higher lows on the daily time frame, indicating strong buying pressure. Key resistance levels are being tested, and a breakout above $65,000 could trigger momentum buying. 4. Regulatory Clarity: Recent positive news surrounding Bitcoin ETFs and crypto regulation in major economies like the U.S. and Europe is fostering a favorable environment for Bitcoin’s growth. Reduced regulatory uncertainty encourages more long-term investors to enter the market. 5. Market Sentiment: Social and market sentiment data indicate a bullish trend, with more optimistic sentiment from traders and analysts. Fear and Greed indexes also signal rising confidence in continued gains.

The major fundamental and macroeconomic elements to watch about #bitcoin . Fundamental Analysis ETF Approval in the US: The SEC is reviewing applications for several spot Bitcoin ETFs, and a potential approval could act as a major bullish catalyst. If approved, it would provide institutional investors easier access to Bitcoin, driving prices higher. The decision could come by mid-October. • Macroeconomic Factors: • US Federal Reserve’s Interest Rate Decisions: With inflation still a concern, any signal from the Fed about continued rate hikes in October could strengthen the dollar, potentially putting downward pressure on Bitcoin. • US Dollar Strength (DXY): Bitcoin typically has an inverse correlation with the dollar index (DXY). If the dollar strengthens further due to positive economic data, Bitcoin may face bearish pressure in the short term. Specific Events to Watch • Bitcoin Spot ETF Decision (Mid-October): Keep an eye on the SEC’s ruling. Approval could be a game-changer. • CPI Data Release (October 12): Inflation data from the U.S. could influence investor sentiment, especially regarding Bitcoin as a hedge. • SBF Trial (October 3): The high-profile trial of FTX founder Sam Bankman-Fried may impact market sentiment, as any revelations about the broader crypto industry could create short-term volatility.

I think that Bitcoin will permit new good entries at 59K. The weekly chart was not able to keep the price above 65K. Short term traders need to be aware of a correction. #bitcoin

The October effect on BTC Statistically, Bitcoin has about a **60-65% chance** of moving up this week. Historically, October has been a strong month for Bitcoin, with an average price increase of around **20%**. This period is often referred to as "Uptober" due to the frequent upward trends observed in past years. In simplistic terms, here's why: after recent dips, Bitcoin often consolidates before a rise, and key market factors like high liquidity, institutional interest, and historical performance suggest a potential bounce. Also, traders tend to anticipate positive movements at the start of Q4, driving optimism. While past performance isn't a guarantee, statistically, Bitcoin tends to rally in October, making the odds of an upward move more favorable this week.

The Asian crypto market is setting the stage for an exciting recovery! While Bitcoin may be temporarily hovering between $43,000 and $38,000, seasoned analysts see this as a key consolidation phase before a major breakout. We’re heading into October—often dubbed “Uptober” for its historical bullish trends—which could see Bitcoin and altcoins surge back stronger than ever . Yes, some assets have faced minor setbacks, but these dips are creating massive opportunities for smart investors. With key events like the upcoming XRP token unlock, we’re on the verge of a liquidity boost that could ignite fresh momentum across the board . While Shiba Inu and other altcoins are recalibrating, this only sets the stage for bigger moves soon . The market may be cautious for now, but there’s no better time to prepare for the upward wave that’s poised to come! Buckle up, because this is the calm before the storm of growth!

“Is Bitcoin Primed for Another Breakout? 🔥💥 This is the most important week for BTC in months! With volatility tightening and on-chain metrics signaling a potential shift, Bitcoin could be gearing up for a major move. 📈 Institutional interest remains strong despite market uncertainty, and we’re witnessing increased accumulation from long-term holders. Could this be the calm before the storm? ⚡ As the next halving approaches, will BTC reclaim its dominance, or will macroeconomic headwinds keep it in check? 🌪️ Let’s talk! Where do you see Bitcoin heading next?” #Bitcoin #BTC #Crypto #MarketMoves

The weekly BTC chart indicates that if it remains above 64K, there's a 60% chance of it reaching 80K within the next five months, and a 70% chance of hitting 72K in the next three months. #bitcoin

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