The fluctuation of Bitcoin prices has affected counterfeit coins, with current trading slightly below the support level of $26800. The recent news has had a certain impact on market volatility
The fluctuation of Bitcoin prices has affected counterfeit coins, with current trading slightly below the support level of $26800. The recent news has had a certain impact on market volatility. However, just a few hours ago, ArkInvest took a step to bring optimism to the market. The company has updated its application for spot Bitcoin ETFs and is actively responding to feedback from the SEC, which means that the approval of ETFs is getting closer to us.
DOGE comments
In the context of geopolitical risks, rising oil prices, and the Federal Reserve considering further tightening policies, we can return to the predictions of DOE because we have good news. Although the price of Bitcoin has been shaken today due to K industry's sell-off, the King of Cryptocurrencies is attempting to regain support at $26800. The daily closing price is also crucial for counterfeit coins.
It is expected that Dog Coin will lose its support level of $0.06 on October 9th. The sales of K-machines have reached a huge scale. The relaxation of demand for futures has opened the door to losing support. However, the candles on October 9th showed strong support for the $0.055 support level. If BTC also starts to recover above $27200, it may quickly target $0.06.
If this goal is not achieved, bears will strive to break through the support level of $0.055. If the closing price falls below this level, it may fall to the support level of $0.05. It is expected that this support level will be actively defended by buyers, but the performance of the Bitcoin market will have a critical impact on this situation.
Although Bitcoin and most counterfeit currencies did not rise as expected, the evaluation of TONCoin (TON) showed strong characteristics. As a counterfeit currency supported by Telegram, it is clearly influenced by this social media giant. As for prices, bulls failed to maintain TONCoin above $2.06 on October 7th. This implies a significant profit taking in the rebound.
An encouraging sign for bulls is that the TON/USDT currency pair has successfully maintained above the 50 day moving average ($1.96). If the price starts to rebound, we may see it rise to $2.18 and $2.32.
However, in the opposite situation, prices may start to decline to $1.6 and then continue to decline to lower levels. The current goal of Bitcoin is to return to $26800, which increases the potential for a rebound.
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