Welcome back to Alpha Drop! My name is Ron, and today it's a very exciting day. Okay, Krypto, crypto alive, crypto is alive! It has been pumping. We're going to be looking at the charts, but first of all, let's get in the vibe first. So, Bitcoin is at 65,66, Ethereum at 2,600! Woo, look at that, up 7% in the past 24 hours. Bitcoin up 5%, BNB at 589, up 3.3%, Solana $157, up 5.8% for the past 24 hours. Looking very good. And just to put into perspective, memes are up! Memes are up a lot: Turbo 33%. Right, boom, boom! 33%, 25%, 11%. Like what did I tell you? Right, the structure says it all. You trade what the market tells you, not what you think.
So, as of right now, let's look at Bitcoin on The Daily timeframe. So, the game plan here is very simple: yesterday's candle, we closed very strong taking out 64,000 very effectively. So, as I said, you tackled that 64,000, we're looking for upside momentum. Now, the game plan here is very simple. The next range we want to target is $68,000. This is marked from this Range High right here on July 29 just a couple of days before the August one dump right, which was insane. That was like stressful, but we just huddled and pushed through and now we're looking good. So, game plan again very simple. We're looking for today. Today is October 15. We want today's candle to close above this bearish order block that has been formed right here. We want to see today's close above this green rectangle. If we see today's candle close above this green candle, then we can look to take out 68,000. But it's going to take a while. It's not going to be like we close above today and then we're going to take out tomorrow. Ideally and realistically, we want to see consolidation above the green rectangle.
Now, looking at ETH on The Daily, we're still looking to take out this H4 Supply, H4 Supply meaning 4H hour, this candle forming on the 4-hour timeframe. So if we look at the 4-hour timeframe, you can see that this is a bearish order block. You have the red, you have the green, then you have the igniting candle, right? So, how I structure my support and resistance is mainly because of order blocks. Whenever there are impulsive moves, usually there is a retest happening before the impulsive move. So, on The Daily timeframe, I've spotted another order block forming for ETH, and this is happening live right now. You can see we have green, we have red, then we have green. So, is this a good time to enter? If you're going to be doing it on spot, you should DCA. But not financial advice. If you're going to be doing futures, that's when it's tricky.
For alts, even though alts are performing very well on the Daily timeframe, of the others, so this is the market cap of all altcoins outside of the top 10, it's still not making a big impact. That's why I said we're still not in alt season despite me, my entire portfolio very early, yeah, we're still very early. This is why my portfolio is up 20% and it's not yet alt season. Really speaks volumes. Yes, when we do get into alt season, which will be above 12.6%, right, be so juicy, exactly! So, so juicy. It's going to be so juicy.
So, there's like a huge debate going on right now inside the crypto industry, talking about how L2s, L1s won't really be as hot as AI, G, no, it's actually AI, real-world assets, and DeFi, because those are the ones that the larger institutional investors have interested, essentially full ported in terms of L1, L2 gaming. That's what I really like to see, but there's not enough fundamental research to say, to project that. So, it's really just, it all comes down to supply and demand: Will there be something good in L1, L2, and gaming that creates massive value for not just crypto people but everyday people, because if there's everyday application, practical application, everyday usage for those sectors, then that can really come in keeping it simple, right?
Smash up the like button, subscribe to the channel, and if you don't have a Buybit account, you can sign up with our referral link down below. There's a $30,000 deposit bonus as well as a $20 USDT sign up bonus so you can start trading immediately. All right, guys, smash out the like button, subscribe to your channel one more time for good luck. Yes, sir! My name is Ron Martin.
Q: What are the current market trends for cryptocurrencies?
A: The current trends show Bitcoin at 65,66, Ethereum at 2,600, BNB at 589, Solana at $157, and memes experiencing significant increases.
Q: What is the Bitcoin price analysis and future predictions?
A: The analysis indicates a target of $68,000 after closing above critical levels, with a focus on momentum and consolidation.
Q: Can you provide insights into Ethereum trading strategies?
A: The strategy involves spotting order blocks and impulsive moves on the daily timeframe, with caution advised for spot and futures trading.
Q: What are the insights into the altcoin market and predictions for the market season?
A: Altcoins are performing well, but the market season has not yet arrived, with anticipation of significant growth when it does.
Q: What is the impact of L1s, L2s, and future trends in the crypto industry?
A: Debates exist around the potential impact of L1s, L2s, AI, real-world assets, and DeFi on the industry, emphasizing the need for practical applications and value creation.
Q: What are the closing statements and call to action?
A: Viewers are encouraged to engage by liking, subscribing, and signing up for a Buybit account with referral bonuses, with a final reminder from Ron Martin.
