Market Analysis on October 12th, 2021
The Big Board
It’s still a one-man feast for BTC. However, the main concept coins are not so good. For BTC, with the target remains unchanged based on 60,000，in the absence of acceleration before the formation of every hit bottom fall is a opportunity to buy. Step in on a 4-hour average retracement moving.
ETH is the representative of the mainstream coins. If ETH does not go well, each mainstream is difficult to form trends. It’s forming a circular top again, which means it’s at risk of falling back, let alone the mainstream ecocoins represented by SOL and AVAX. We shall watch to see if support 3312 can take on the reversal of trend formation. Due to the AXS pulling up, our focus remains on the Metasemes and Gamefi. Every once in a while, it will change currency to pull, such as RACA before, RARE for yesterday, ZOON and ETERNAL for today.
At present, BTC has a large rise. There is a risk of a big drop leading to a big drop of most currencies. Pay attention to control positions. The above analysis is for reference only, the currency market has risks, investment needs to be cautious.