Bitcoins
- Bitcoin defies September odds, pumping 8% and delivering the best gains in a decade as “Uptober” kicks off.
- Empire Crypto Trading racks up huge wins as our community stays ahead of market trends!
- Altcoins are booming as the OTHERS chart breaks out! Here’s what I’m trading and watching closely.
Bitcoin and Altcoins Rally Together—But Can It Last?
September, usually dubbed “Slumptember” for its notorious losses, took a surprising turn in 2024 with Bitcoin recording a 10% gain. Historically, October has been bullish, with nine of the past 11 years in the green, and analysts are optimistic for a potential breakout to $70,000. Despite some brief dips, strong on-chain activity suggests we’re still in a bull market.
Rate cuts from the U.S. and China are fuelling optimism, but let’s not forget that China still heavily restricts cryptocurrency activities. Until those bans are lifted, how much impact can China really have? It’s important to look beyond the headlines that some YouTube “shillers” throw out there!
$7,500 Profit in Less Than 9 Hours!
Being part of a trading community like Empire Crypto Trading means celebrating wins together, and the recent market rally has brought a lot of joy. Last week, I focused on trading volatile coins like RUNE, PEPE, and Bitcoin. I also discovered a new altcoin called LOGX, thanks to one of our head coaches who shared it with the community. Without Empire, I wouldn’t have snagged LOGX below early investor prices!
I’m a chart-focused, technical trader, and using this approach, I locked in $7,500 in under 9 hours last Thursday trading RUNE, PEPE, Bitcoin and LOGX. This made for a very happy weekend! If you want the details on these trades, they’re available for free on the Empire platform.
When I trade, I keep things simple. I target coins that move rapidly, whether the market is falling for shorts or rising for longs. As we say at Empire: “Bulls climb the stairs, but Bears jump out the window!” Knowing how to profit in both directions has its perks.
Altcoins BOOM as the OTHERS Chart Breaks OUT!
The OTHERS chart, excluding the top 10 cryptos by market cap, is my go-to for gauging the overall altcoin market sentiment. When this chart started breaking out on the smaller timeframes, I immediately shifted my focus to position trades on altcoins like RUNE and PEPE, and I’m keeping a close watch on FTM, GRT, and NEAR. The Empire community had a field day with these trades!
Right now, I’m watching the OTHERS chart closely for a retest of the breakout and the double bottom pattern that emerged last week. With a raft of U.S. economic news and geopolitical tensions on the mounting, I’m expecting a slower week for gains—but I’m ready for any sudden moves!*
As Always—Trade Smart and Stick to Your Plan!
Trade what you see, stick to your plan, and always use proper risk management. If you’re hungry for more ALPHA and want to dive deep with a community of passionate traders, join us for live Zoom calls to discuss charts, strategies, and everything crypto-related. Get in the trenches with a bunch of the friendliest and most supportive traders at Empire Crypto Trading—you won’t find a better group!
Written by Matthew Stella. At the time of writing this article, Bitcoin was trading at $63,700.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. The author takes no responsibility for any financial losses incurred as a result of trading or investing based on the information provided. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.
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