Cryptocurrency News
October 18 Highlights:
1. Bitcoin ETF surpasses $20 billion in just 10 months.
2. Venmo's 60 million U.S. users can now purchase cryptocurrency through MoonPay.
3. Bank of America warns that as U.S. Treasury bonds face risks due to rising national debt, gold may become the last safe haven.
4. Coinbase International will launch Turbo perpetual contracts.
5. The FBI arrested a man for posting false #Bitcoin ETF approval news on SEC's Twitter.
Trading Insights
If you don't understand the cycles of trading cryptocurrencies, it will be in vain even if you trade for another ten years. The cryptocurrency market is cyclical, divided into 5 cycles and 2 phases. Three of these cycles constitute a bear market, while 2 constitute a bull market phase. The repetition of these five cycles forms the trend of the cryptocurrency market. The five cycles of the cryptocurrency market are: downtrend cycle, bottoming cycle, consolidation cycle, rally cycle, and distribution cycle. In 2023, we are in the bottoming cycle, in 2024 we will be in the consolidation cycle, early 2025 will be in the rally cycle, and by the end of 2025, we will be in the distribution cycle.
LIFE IS LIKE
A JOURNEY ▲
Below are the real trading signals from the Big White Community this week. Congratulations to the friends who followed along. If your trades are not going well, you can come and test the waters.
The data is real, and each trade has a screenshot from the time it was sent.
Search for the public account: Big White Talks About Coins
BTC
Analysis
Bitcoin's daily line fell from a high of around 68,000 to a low of around 66,600 yesterday, closing around 67,450. The support level is near the MA7 moving average, while the resistance is around 69,000. A breakout could see it reach the top near 70,000. A rebound to this area could be an opportunity to short. The MACD shows bullish momentum. The four-hour support is near the MA7 moving average; if it breaks, it could drop to the MA30. The MACD shows a decrease in bearish momentum and signs of a golden cross forming. A short-term entry around 69,270-69,900 could be an opportunity to short, with a target of 66,810-65,200.
ETH
Analysis
Ethereum formed a doji yesterday, with a high spike to around 2,650 and a low drop to around 2,575, closing around 2,605. The support level is near the MA7 moving average; if it breaks, it could drop to the MA30. A pullback could be an opportunity to go long. The resistance is near the MA90. The MACD shows bullish momentum. The four-hour support is near the MA30; if it breaks, it could drop to the MA200. A pullback could be an opportunity to go long. The MACD shows a decrease in bearish momentum and signs of a golden cross forming. A short-term entry around 2,560-2,520 could be an opportunity to go long, with a rebound target of 2,600-2,630.
Disclaimer: The above content is personal opinion and for reference only! It does not constitute specific trading advice and does not bear legal responsibility. Market conditions change rapidly, and the article may have some lag. If you have any questions, feel free to consult.
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