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October 1, 2021
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EllioTrades Daily Roundups

October 1, 2021

The Bulls Are back!

Oliver Grah
Oct 1, 2021
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October 1, 2021
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Introduction

Not that we want to get ahead of ourself but yes, seeing some bullish price action in the crypto markets feels good for a change. Bitcoin’s price jump has been painted on the wall for many weeks, only suppressed by tumbling stock markets and regulation FUD.

Twitter avatar for @KoroushAK
Koroush AK @KoroushAK
"Pain will leave once it's done teaching you" - Bruce Lee
10:30 AM ∙ Oct 1, 2021
304Likes37Retweets

Market Watch

  • With prices having been in limbo for quite a few days, it’s easy to get lulled in and look away – but that’s exactly when the action happens! As we pointed out several times, Bitcoin tends to make its moves when the least amount of people expect it…

Twitter avatar for @rektcapital
Rekt Capital @rektcapital
Bitcoin will retrace deep enough to convince you that the Bull Market is over And then it will resume its uptrend $BTC #BTC #Bitcoin
10:55 AM ∙ Oct 1, 2021
464Likes40Retweets
Twitter avatar for @rektcapital
Rekt Capital @rektcapital
#BTC has made it back above the 21-week EMA Well above $BTC #Crypto #Bitcoin
11:40 AM ∙ Oct 1, 2021
285Likes24Retweets
  • It’s refreshing to see crypto prices do well on a day when traditional markets are in red territory.

Twitter avatar for @blknoiz06
Ansem🃏 @blknoiz06
stocks red & btc up? oh? what happened guys i was told
11:11 AM ∙ Oct 1, 2021
86Likes1Retweet
Twitter avatar for @MacroScope17
MacroScope @MacroScope17
BTC up, legacy markets down. The importance of these divergences cannot be overstated. They flash bright red on the screens of every asset manager and trader and solidify BTC as a go-to macro asset on desks globally.
10:56 AM ∙ Oct 1, 2021
1,601Likes271Retweets
  • As confounding that it is that the many bearish September calls came to fruition, we can’t help but feel grateful that October announced itself with a nice pump.

    Twitter avatar for @BitcoinMagazine
    Bitcoin Magazine @BitcoinMagazine
    #Bitcoin ends Q3 with a 25% gain. Let supply shocktober begin.
    Image
    11:10 AM ∙ Oct 1, 2021
    588Likes84Retweets
Twitter avatar for @DaanCrypto
Daan Crypto Trades @DaanCrypto
Rektember is over 📉 Uptober is next 📈
8:54 AM ∙ Oct 1, 2021
1,060Likes117Retweets
  • Do you feel sorry for the millions in shorts being liquidated?

Twitter avatar for @mskvsk
Lex Moskovski 🔺 @mskvsk
$270M liquidations in an hour say hi to uptober
10:50 AM ∙ Oct 1, 2021
504Likes50Retweets
  • From an on-chain perspective, the outlook for the crypto markets looks bright. But don’t get caught up in the FOMO, there are still regulatory storms on the horizon, most likely leading to short-term market dislocations. Technically, a rejection from resistance and a visit to lower levels is still possible on shorter timeframes.

Twitter avatar for @woonomic
Willy Woo @woonomic
Nom nom nom. 🐳
Image
1:27 PM ∙ Oct 1, 2021
123Likes17Retweets
Twitter avatar for @WClementeIII
Will Clemente @WClementeIII
Floor was set but most didn’t believe it. My on-chain floor model rising daily, now above $39K. https://t.co/WKFKRf8ca5
Twitter avatar for @WClementeIII
Will Clemente @WClementeIII
BTC floor has been set. Large bids across all major exchanges. BTC came within $1,300 of my on-chain floor model and is still $148,000 from my top model. Do we trade a few thousand $ lower? I couldn’t care less. The asymmetry of being long over the next few months is huge. https://t.co/vognaO0UFn
12:18 PM ∙ Oct 1, 2021
961Likes94Retweets
  • Raoul Pal shares his macro outlook for Bitcoin, and let’s say… it’s bullish.

Twitter avatar for @RaoulGMI
Raoul Pal @RaoulGMI
The Bitcoin long term log chart looks pretty luscious. Who knows if the wedge breaks on first attempt but a consolidation pattern of this magnitude usually leads to a very, very powerful upside move. #BTC
Image
1:37 PM ∙ Oct 1, 2021
1,739Likes274Retweets
  • Let’s not get ahead of ourselves, but… gm ✊

Twitter avatar for @punk6529
6529 @punk6529
gm to Q4 2021 things are about to get weird 😉🚀🔥♥️🤝🥳
10:07 AM ∙ Oct 1, 2021
379Likes31Retweets
  • While we don’t know yet where this Bitcoin move will take us, the playbook to make massive gains is clear: Positioning oneself in the right altcoins which will inevitably follow BTC…

Twitter avatar for @CryptoMichNL
Michaël van de Poppe @CryptoMichNL
#Bitcoin stabilizing. #Altcoins following. That's the recipe.
11:15 AM ∙ Oct 1, 2021
563Likes42Retweets
  • We prepared you in the last days to position in the right plays – altcoins that only need stabilization of the markets to gain momentum… MATIC is one of them.

Twitter avatar for @cryptoMaxi420
Crypto Maxi @cryptoMaxi420
$Matic supply going down to 0 on exchanges at a rapid pace. Volatility about to go through the roof and my best is its going up :) #ETH #MATIC #Polygon #Bitcoin #PolygonNetwork
Image
8:30 PM ∙ Sep 30, 2021
321Likes72Retweets
Twitter avatar for @morales_eth
Morales (Ethereum scaling solutions stats) 📊 @morales_eth
10% of @0xPolygon ecosystem is shown on picture below, and remember, that was almost a year ago! awesomepolygon.com $BTC $ETH $MATIC
Image
8:23 AM ∙ Oct 1, 2021
63Likes8Retweets

The US Is Not Going to Ban Crypto!

  • Has there been a catalyst for the impressive Bitcoin move today? Especially since the stock markets are still heading in the other direction? While we have pointed out an imminent supply squeeze and bullish on-chain metrics for a long time, there has been a major green flag at the regulatory front, easing the fears of many crypto investors:

Twitter avatar for @BitcoinMagazine
Bitcoin Magazine @BitcoinMagazine
OFFICIAL: The United States has no intention to ban #Bitcoin and crypto. - Fed Chairman Jerome Powell
Image
6:10 PM ∙ Sep 30, 2021
12,622Likes3,025Retweets
  • At the same time, we see politicians step in and put a word in for crypto. Who would have imagined that a sitting US congressman would call for Bitcoin as the new gold standard?

Twitter avatar for @RepCawthorn
Rep. Madison Cawthorn @RepCawthorn
Why do we not use cryptocurrency as the new gold standard?
9:19 PM ∙ Sep 30, 2021
7,790Likes1,248Retweets
  • Not just Republicans, also some Democrats have jumped on the crypto bandwagon.

As federal agencies struggle to agree on digital asset jurisdiction, state legislators are leading the way on cryptocurrency regulation, and Illinois state Representative Margaret Croke (D-12th district) is the latest example. 

Twitter avatar for @Blockworks_
Blockworks @Blockworks_
Illinois will soon vote on a bill that would allow financial companies to hold crypto such as #Bitcoin “The banking industry in Illinois is very excited about this bill, and usually that doesn’t happen,” - State Representative @Croke4Illinois
blockworks.coThis State Representative Is Out to Make Illinois the Next Crypto Hub - BlockworksHouse Bill number 3968 is a digital-assets-focused proposal that would allow financial technology companies in Illinois to hold crypto.
1:04 PM ∙ Oct 1, 2021
67Likes13Retweets

ETF Decision Delayed – Again

  • While not the decision we were hoping for, at least the SEC hasn’t rejected the Bitcoin ETF’s just yet. So, we can still be hopeful for an ETF approval later this year…

Source: Cointelegraph

Banks Jumping into DeFi

  • In massive news that makes one forget the regulatory headwinds from the USA for a short time, the third-largest bank of France announced its foray into DeFi.

Turns out it was the future of France all along!

Twitter avatar for @RuneKek
Rune Christensen @RuneKek
Société Générale, the third largest bank in France, just made a collateral onboarding application to Maker for 20 million USD. Backed by EUR bonds, proposed by their blockchain subsidiary.
forum.makerdao.com[Security Tokens Refinancing] MIP6 Application for OFH TokensDear MakerDAO Community, We submit to you, on behalf of European investment firm Societe Generale-Forge, this MIP6 application for discussion and approval of Security Tokens refinancing. This first experiment at the crossroads between regulated and open source initiatives, as described below, is in…
10:26 PM ∙ Sep 30, 2021
575Likes145Retweets

Terra x Akash

  • The recent Columbus-5 upgrade brings the Terra and Akash ecosystems, two favorites of ours, closer together.

Twitter avatar for @gregosuri
Greg Osuri @gregosuri
When @terra_money enables IBC, you'll be able to pay for hosting on @akashnet_ using $UST, making $UST the first stable coin for the decentralized cloud. This will need a minor wrapper but pretty sure @stablekwon and I can put out a small grant for it.
Twitter avatar for @SteveDeFazio
Steve DeFazio @SteveDeFazio
@gregosuri Is this a good idea? - If UST really takes off, allow Akash fees to be paid in UST, and swap them on the back end into Akash to pay providers.
4:09 PM ∙ Sep 30, 2021
330Likes63Retweets
  • For everyone who wants to explore the fast-expanding Terra ecosystem before the crowd jumps in, here are some early-stage projects to check out:

Twitter avatar for @Terrians_
Terrians 🌕 @Terrians_
The Col-5 is coming with the top5 promising projects which are based on personal evaluation. Do you have any? Show us 🚀
Image
1:45 PM ∙ Sep 30, 2021
229Likes59Retweets

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October 1, 2021
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1 Comment
Coin Sniffer
Oct 2, 2021

Love this space brother. Thank you! We appreciate the knowledge and this helps me confirm my thoughts... Legend!

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