Harris-Trump debate ends without mention of cryptocurrency 😓

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📅 Today

🔍️ Market Outlook

• Overall Bias - Cautious 🙏 

• BTC broke the key $62,400 level, but failed to re-test and hold it as support.

• It also failed to hold $56,000, a crucial support zone.

• BTC is now trying to re-test these levels as resistance.

• $60,000-$63,000 is a big resistance area that BTC must break, or risk further consolidation otherwise,

• This level is the bull-market support band (20 Week SMA & 21 Week EMA)

• It is wise to not take any new leveraged positions till BTC closes above this band, and till BTC dominance reverses it’s uptrend.

No Mention of Bitcoin in Presidential Debate ❌ 

The first presidential debate between Donald Trump and Kamala Harris ended without mentioning crypto.

Kamala Harris and Donald Trump debated multiple topics from abortion rights to the war in Ukraine, but crypto was not among them. The topic of immigration was also discussed extensively

Crypto however, remains a major topic in the upcoming U.S. election. Crypto firms have so far spent $119 million in 2024, with almost all of the funds going into super political action committees, specifically the Fairshake PAC

Solana Makes History ❗️ 

Solana achieved a significant milestone by recording the highest number of daily active addresses in its history, and across any other blockchains.

On September 10, 2024, Solana surpassed 5 million daily active addresses, up from 1.05 million earlier in the year.

The massive rise in users is mainly due to the growing action in the DeFi projects, Memecoin mania and NFT marketplaces on the Solana blockchain.

This now makes Solana the top blockchain by daily active users, and the craze just seems to be starting.

📕 Educational

Bitcoin could be on the verge of a major move—and it could happen fast!

According to K33 Research, the 30-day average perpetual futures funding rate has recently turned negative, a rare event that has only occurred six times in the past.

Historically, each of those instances was followed by significant price increases, with BTC showing an average return of 79% over the next 90 days.

📊 Stat of the day

📈 Chart of the day

Rationale & Confluences

• 4H breakout re-test

• Horizontal support

• 0.382 Fib retracement

• 20,50 EMA support

• Look out for bullish candlesticks on reversal for entry

• Source : Cointraction

🤣 Meme of the day

Accurate 🤣 

That concludes our update for today!

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Disclaimer : None of the content shared in the newsletter is financial advise. Always do your own research and analysis before investing.