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🐂 Bitcoin Q3 Ended Bullish 

Word On The Street: Bitcoin has made a strong return above the $60,000 mark in the fourth quarter, concluding a September more successful than any in the past decade.

The details:

• This has led many to speculate whether Bitcoin could experience another "Uptober," a historically strong month for the cryptocurrency.

• During Q3, Bitcoin dipped below $50,000, marking its lowest levels in half a year due to macroeconomic concerns primarily stemming from Japan.

• Yet, this crash was short-lived; Bitcoin managed to recover fully by the end of September.

Why it matters: What’s driving this renewed optimism in risk assets, including Bitcoin, is a wave of global financial easing.

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Traders Corner (Premium)

Welcome, Traders!

Traders Corner is the premium section of The Blockstreet Journal. We provide one free report out of appreciation ❤️ 

Reports from our analysts today:

• FTX Token Technical Analysis (Free)

• Helium Technical Analysis (Paid)

• WorldCoin Technical Analysis (Paid)

TRADERS CORNER
📈 FTX Token Technical Analysis

FTX Token (FTT) is currently trading around $2.2276, which is slightly below the middle VWAP band at $2.3024. This indicates a slightly bearish momentum as the price is leaning towards the lower side of the VWAP, suggesting that sellers are exerting pressure in the short term.

Trend Analysis:

The chart shows a mixed trend, with periods of significant upward rallies followed by pullbacks. Recently, FTT experienced a surge that took the price above the upper VWAP band, but this move was not sustained. The price has since retreated and is now testing the middle VWAP band.

The VWAP bands are moderately wide, indicating a relatively higher level of market volatility. This suggests that the market may be in a phase of consolidation, with a potential for a larger move in either direction.

Support and Resistance:

- Resistance: The immediate resistance is at the middle VWAP band around $2.3024. If the price manages to break above this level, the next target would be the upper VWAP band at $2.4475.

- Support: The first key support level is at the lower VWAP band near $2.0121. If the price continues to fall and breaks below this support, the next level to watch would be around $1.8670.

Potential Scenarios:

Bullish: If FTT finds support at the current levels and breaks above the middle VWAP band at $2.3024, it could signal a shift in momentum. In this case, the price may attempt to reach the upper VWAP band at $2.4475, where it may encounter resistance.

Bearish: If selling pressure persists and FTT fails to hold the current level, a break below the middle VWAP band could push the price towards the lower VWAP band at $2.0121. A sustained move below this level could indicate a continuation of the bearish trend, with further downside potential towards $1.8670.

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