BTC TOP 3
PRICE DISCOVERY MODE FOR POLKADOT AND ETHEREUM
With Parachain Auction just around the corner, DOT going into price discovery mode shouldn’t come as a surprise. Polkadot is probably the safest, fundamentals-based bet anyone could have made in the last few months with such a clear catalyst.
Trading at around $51, DOT’s next immediate target is $75.
Aside from Polkadot, Ethereum has also made its way to another all-time high at $4,530.69 earlier today.
Finally, we got some clarity and definite trend movement on the alt coins. Bullish November, here we come!
BITCOIN TO 98K
If you can recall, Plan B, who is infamous for his Bitcoin Stock-to-Flow model and almost accurate Bitcoin predictions, has predicted 98k as November’s monthly Bitcoin close.
Now, let us discuss how this would possibly play out.
November, or Moonvember, has always been the most bullish month in the market, most especially with the crypto market.
Looking back at historic price actions, most November closes in the green.
November 2013 – +470.94%
November 2017 – +54.18%
If we were to at least get near to the 2017 pump, say 50%, that would give us roughly a 90k BTC.
Also, from the start of October to its highest peak within the month, BTC rose to +62%. If that were to play out again this November, (and this is very possible with bitcoin), this would lead us around Plan B’s 98k goal.
Hence, 98k Bitcoin at the end of Bitcoin could be another accurate prediction of Plan B.
#Bitcoin market summary:— Dylan LeClair 🟠 (@DylanLeClair_) November 1, 2021
– Exchange balance at 3 year low
– Long term holder supply at ATH
– Realized price at ATH
– Miner profitability ≈ 2.5 year highs
– Derivs market 45% BTC margined, 70% in April (less REKT longs)
– CME market leading OI (less leverage)
DAY TRADE TIPS: ALTS
MANA/USDT – accelerating quite fine, looking at historical price actions, can drop 15% and still be bullish..
Best entry point – $1.02-$1.04
Target: $1.17, $1.42
Possible corrective entry points: $2.2-$2.6 range
Levels to watch: if $2.9 does not hold support, the next support would be $2.2. If it fails yet again, $1.50 as the next support zone (these could be buying opportunities as well)
If, however, we continue upwards, and would flip $3.3 level as support, would possibly get back to highs and gain about 30-50%.
ARPA/USDT entry points: $0.154 area.
SAND/USDT – for entry points, we might want to wait till it gets back to the $2.1-$2.3 range.
DENT/USDT trade opportunity would be around $0.007 level.
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH.
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