The Biggest Trade I’ve Seen! Bitcoin’s $72K Resistance in Sight!

Empire Member Secures 5000% Profit on NEIRO!

In an unprecedented week of wild market swings, one of our Empire community members bagged an incredible 5000% profit on NEIRO/USDT! This trade was shared with the Empire community, and I have to say, it’s the biggest trade I’ve seen so far. NEIRO is no ordinary memecoin—positioned as the first community-led Doge heir on Ethereum, it’s backed by a unique mix of legacy, support from Vitalik Buterin, and even a focus on animal welfare.

Is this the MOST Bullish Week for Bitcoin?

Bitcoin is gearing up for an intense end to “Uptober,” with traders eyeing a bullish monthly close fueled by rising US Bitcoin ownership, robust whale accumulation, and a key CME futures gap at $67,000 acting as a potential retracement point. This week’s market volatility, heightened by US macro data, the upcoming election and the approaching Fed rate meeting, could see Bitcoin consolidate before breaking the $70,000 resistance, setting the stage for an explosive November.

On the Fed side, we’re not expecting any shocks—CME Group’s FedWatch Tool points to a 0.25% rate cut, which the market is anticipating and might welcome as a further boost.

Why do Altcoins Drop so FAST!

Early on Saturday, we saw a brutal sell-off across the altcoin market, with many of my top-traded coins like FTM, RUNE, and PEPE dropping by as much as 15%. Bitcoin only slipped 4%, but these sharp movements in alts are pretty standard whenever Bitcoin gets close to a major resistance level. It’s like the market is holding its breath for a Bitcoin breakout, and the moment there’s hesitation, sentiment shifts. When this happens, alts typically experience the brunt of the volatility. Understanding this is key—it’s a reminder that managing your risk is everything in a market like this.

To put it simply, altcoins tend to drop harder and faster than Bitcoin. They’re generally more volatile, less liquid, and often valued relative to Bitcoin. When Bitcoin’s price falters or meets resistance, many traders shift their funds from altcoins into Bitcoin, amplifying the sell-off in alts. This is why it’s crucial to keep an eye on Bitcoin’s dominance; as it grows, it can create shockwaves that impact alts even more severely.

In summary, it’s shaping up to be an exciting week. With any luck, next time I’ll be sharing news of Bitcoin hitting new all-time highs. In the meantime, stay sharp, manage your risk, and enjoy the ride as we gear up for what could be an epic November!

New to Trading? Empire’s Got You Covered!

If you’re feeling lost in this volatile market or want to sharpen your trading skills, Empire’s Complete Traders Course has got you covered! Whether you’re completely new to the crypto space or just looking to polish up your strategies, our redesigned course makes learning chart analysis, understanding how to use exchanges, and trading simple. Check out the new structure and get started on your path to mastering the charts at Empire!

Written by Matthew Stella. At the time of writing this article, Bitcoin was trading at $68,590.

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. The author takes no responsibility for any financial losses incurred as a result of trading or investing based on the information provided. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.