The price fluctuations of Bitcoin (BTC) are shaking counterfeit coins, and at the time of writing, the price is just below the support level of $26800. The recent news has to some extent increased volatility
The price fluctuations of Bitcoin (BTC) are shaking counterfeit coins, and at the time of writing, the price is just below the support level of $26800. The recent news has to some extent increased volatility. However, a few hours ago, Ark Investment took a step that will once again support optimism. The ETF issuing company has updated its application for spot Bitcoin ETFs and is implementing feedback received from the SEC. This means that approval is getting closer and closer.
DOGE comments
With geopolitical risks, rising oil prices, and the Federal Reserve considering further tightening policies, we can return to Dege's prediction because we have good news. Although the price of Bitcoin has been hit by mining sales today, the King of Cryptocurrencies is attempting to regain support of $26800. The daily closing is also crucial for counterfeit currency.
On October 9th, dog food will lose support of $0.06. The sales of miners have reached a large scale. The relaxation of demand for futures has opened the door to losing support. However, the candles on October 9th showed strong support at $0.055. If BTC also starts to rebound above $27200, it will soon reach its target of $0.06.
If they cannot do this, bears will attempt to break through the support level of $0.055. If there is a closing below it, it is possible for support to drop to $0.05. It is expected that this support will be defended by radical buyers, but the situation of BTC will also be decisive.
TON Coin (TON) Review
Although Bitcoin and most counterfeit currencies cannot rise as expected, TON coin has shown positive divergence in this process. Telegram's support for counterfeit coins has strongly felt the power of social media giants. Speaking of price, on October 7th, bulls were unable to keep TONCoin above $2.06. This indicates significant profit taking during the rebound.
A small positive development in favor of bulls is the successful maintenance of the TON/USDT currency pair above the 50 day SMA ($1.96). If the price will rebound, we may see it move to $2.18 and $2.32.
However, in the opposite situation, a movement to $1.6 and then a deeper low may begin. Bitcoin's current goal is to recover $26800, increasing the likelihood of a rebound.
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