HundredX Trading

Our first YouTube video is live 🔥

https://youtu.be/wUKBQM-cqms?si=L9p6rCQ8ffVwJxBd

Hey HundredX, we're back with great news 🔥

Our YouTube channel is live and from now on, every Monday we'll be sharing market updates in a series called "Crypto Monday"

We'll all be doing educational content so make sure to subscribe:

https://youtube.com/@HundredXTrading?si=JvmpConzleqxJLcj

ETHEREUM - Next target $2500? 🚀

As we can see, the last weekly candlestick made the highest weekly close this year indicating the strong bullish momentum.

As we cleared the resistance zone around $2100, our next resistance zone is at $2500.

It means that there's nothing on our way to the target at $2500 which we believe it can get hit by the end of this week.

As always, be careful with your leverage because we're going parabolic currently and sudden correction could happen anytime!

BITCOIN - Higher timeframe overview 👀

Once we broke monthly resistance at $30 500 and turned that zone into support, we didn't have major resistance until 0.382 Fib level at $36 000.

After we broke 0.382 Fibonacci level, our next target was 0.5 Fib level at $42 000 and we just hit it today!

What's next for Bitcoin?

We're entering into dangerous territory and we expect the resistance to be found soon.

Not only that we're now at 0.5 Fib level but also big order block resistance is in front of us.

This was a very important price level back in 2022 and an area from which big correction started.

No matter how bullish the market is, we do not expect to see a break of this level on the first test.

Many will use this level to take profit and short positions so we believe the top is near.

Be careful with leverage trades, the moves will get more volatile and random as we approach this resistance.

Keep in mind that we didn't squeeze longs since $25 000 and that squeeze is coming, sooner or later.

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Keep only the minimal needed for leverage trading on exchanges.

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What's your target for Ethereum?
anonymous poll

$2140 and above 🚀️️️️️️ – 25
👍👍👍👍👍👍👍 66%

We will lose $1935 support and go lower 📉️️️️️️ – 8
👍👍 21%

I have no idea 🙃️️️️️️ – 5
👍 13%

👥 38 people voted so far.

ETHEREUM - What's the next target?

The last week was very turbulent for the price of Ethereum.

However, we were able to close above the $1935 weekly resistance confirming the break of that resistance level.

Having said that, the price action is targeting a $2140 local market high.

There's a chance we see a pullback down to the $1960-1970 price zone and that's where we have our buy orders ready for a potential move up.

US CPI DAY - What are the expectations?

Today, at 14:30 CEST, we will get US CPI data for October. These are high-impact news that could cause big market volatility.

The market analysts are forecasting the core inflation to stay the same at 4.1% while the expectations for headline inflation are that we're going to see a drop from 3.7% to 3.3%.

How will this affect the crypto?

As a rule of thumb, if we get results same or better than the expectations, we expect the crypto market to positively react.

However, if the results are worse than the expectations, it can negatively affect the crypto market.

The current state of the crypto market is more focused and driven by ETF speculation so we believe that only a big surprise in CPI data could cause a big move in the market.

ETHEREUM - CAN WE GO TO $2500?

As we can see, ETH closed above $1935 (weekly resistance).

This is very important for the price of ETH because it had a problem with this zone for more than 3 months early this year.

The next level of interest for us is the yearly high at $2140 formed in April.

If we're able to break this price level, the next resistance and our target is $2500.

All in all, the chart looks bullish and we will remain bullish as long as we don't close back below the $1935 price level.

Channel name was changed to «HundredX Trading»

What's your target for Bitcoin?
anonymous poll

$32 000+ – 40
👍👍👍👍👍👍👍 49%

Below $27 000 – 38
👍👍👍👍👍👍👍 47%

I don't know, it's very confusing 😐️️️️️️ – 3
👍 4%

👥 81 people voted so far.

BITCOIN - Target by end of the month?

Bitcoin is currently at a very important orderblock zone which will determine whether BTC goes for $32,000 or will drop towards the sellside liquidity of $27,000.

If BTC manages to stay above this orderblock for the next 48 hours we would confirm turning this resistance zone into support and we could expect BTC to target $32,000 in the next few days.

On the other hand, if we fail to hold this momentum and we close today & tomorrow below this orderblock, we would found a resistance and could be heading towards $27,000 by the end of October.

BITCOIN - What is going on?

Two days ago Cointelegraph announced that the SEC had approved Bitcoin spot ETF and immediately after that news, we saw a big increase in price to $30.000.

However, a few minutes later people realized that there was no source for this news and that neither SEC nor BlackRock had confirmed the news leading to a drop in price.

Yesterday was the deadline for the SEC to approve the Bitcoin spot ETF and it got delayed once again which means we have a lot of trapped longs that opened their positions on the fake news two days ago.

If the news was organized by Cointelegraph, they might face a fine but still profit significantly from the manipulation itself.

So, where is Bitcoin heading next?

Currently, we have two important zones which are buy-side liquidity at $32.000 and sell-side liquidity at $26.000 and just by looking at the price action we are more bearish than bullish in the current scenario expecting to see $26.000 by the end of October.

Can we see Ethereum at $1100 and below?
anonymous poll

Yes 📉️️️️️️ – 54
👍👍👍👍👍👍👍 64%

No chance, we won't go that low! – 19
👍👍 22%

I have no idea 🧐️️️️️️ – 12
👍👍 14%

👥 85 people voted so far.

ETHEREUM IS TARGETING $1100?

We could see recently Ethereum being way weaker than Bitcoin.

It's approaching the key level at $1500 and if we lose support in that zone, our next target is the range support at $1100.

BITCOIN DUMPING SOON?

As we can see Bitcoin has a huge amount of liquidity below $26.000 which makes it an easy target for market makers to dump Bitcoin lower but we also still have some liquidity above $28.500.

The current price is stuck in a trading range between these two liquidity zones and the news for inflation on Thursday could move the market towards these zones.

We expect the price to target the sell-side liquidity below $26.000 sooner or later but the news on Thursday will have an impact on the price possibly taking the buy-side liquidity above $28.500 first.

So far, our expectations for 2023 were on point 🎯️️️️️️

Bitcoin - what to expect from 2023?

First of all, we want to thank you all for being part of Hundred X. This was our first year and we're ready for an even better 2023.

BTC is closing this year just above the important weekly support of $16 000.

If we can go back in time to the beginning of this year, a very small percentage would even consider this level to be reached but that's what the bull market makes you think. In a bull market, you think there's no way the price will ever go down in the future.

The same attitude people are having now thinking we will never see a price moving higher in the future because of what we experienced in recent months.

The bottom will be reached, sooner or later!

Be ready for a different year than 2022 was. We expect a slower market, more like a big range that will be established.

We don't expect new all-time highs in 2023.

We expect the economy to suffer even more because it wasn't hit by the recent interest rate hikes.

This is going to be a tough year.

Learn from it, these times teach you more than 10 good years. Don't just complain that it's tough. Do more research, find good projects, investing at these prices can offer you huge profit opportunities.

🥳 Happy New Year 🥳

BITCOIN - Bearish momentum confirmed 📉

As we can see, Bitcoin closed below $27 200 and created strong bearish momentum in the market.

We expect to price action targeting $24 800 as the next level of interest.

If that level doesn't hold, we're looking at $23 300 as the next level of support.

We will be focusing mostly on the short trades until at least $24 800 is reached.

Then, based on the price action, we might change the plan.