#Bitcoin Update – Tuesday, 08.10.2024

8 באוק׳

**As-salamu alaykum and Good Morning to All Brothers and Sisters,**

#Bitcoin is currently moving within a range. It jumped at the beginning of the week but quickly gave back all its gains. We're still hovering around the same area as the last major dump, with the price continuing to fluctuate around that zone (see Arrow #5). Recently, Bitcoin tested the Black and Yellow resistance areas but was rejected, indicating that these levels are still strong.

**What's Next?**

At this point, we don’t have a clear confirmation for either a bullish or bearish trend. The price is sitting right on the Blue Line, which serves as both 4-hour support and resistance. This indicates that we are in a short-term range. For a bullish trend to take shape, Bitcoin must break through the Black and Yellow areas. On the other hand, a bearish move would require a breakdown below the Blue Line. If that happens, the next key support lies at the 59191 level (see Arrow #6), which has yet to be retested and is a crucial point to watch.

**#Alts (Altcoins)**

While Bitcoin struggles for direction, altcoins are still performing well, steadily reaching our Take Profit (TP) targets. However, for any new trades, I’m waiting to see where Bitcoin heads next. In the event of a further drop, we can reload our winning positions and take advantage of the dip. For now, I suggest taking it easy and waiting patiently. Once Bitcoin makes its next decisive move, we’ll be ready to act.

Stay tuned for further updates, and as always, I wish you all a profitable and successful week ahead. Stay focused, stay patient, and have a great day!