Crypto Rob Art

21ST OCTOBER, 2024 - MARKET UPDATE

Added 2024-10-21 15:01:20 +0000 UTC

Hello my friends,

Despite Bitcoin breaking out of the diagonal resistance (green line) as usual after 3-5 days (last few times it got rejected) we still don’t have a clear indicator of the macro trend since we haven’t closed in the roughly $71,000 region yet.

We are now back in the descending channel, as you can see. If bulls hold $58,000 (and the diagonal support marked by a blue line) before bouncing, then BTC made a higher low and bulls are in control. If it goes below that, it’s another confirmation that the downtrend continues.

It’s been nice to see that BTC has performed bullishly in October again, as the only times it hadn’t done that in the past was during bear markets. It pumped in every bull market in October.

Either way, we wait. We will sell good enough pumps and buy good enough corrections/crashes. Whatever comes first, we are prepared.🤜🏻💚🤛🏻