The cryptocurrency market is experiencing notable developments with a focus on Bitcoin's price closure for the week. Low trading volumes during the weekends can potentially lead to a decline, causing the gains achieved during the recent rise to evaporate. In this context, let's examine the charts of Avax, Solana, and Chiliz:

Avax Chart Analysis:

• Avax is currently trading within a descending channel formation in its four-hour chart.
• The price touched the resistance line during the SocialFi hype on October 5th and saw a significant decline.
• The four-hour EMA 200 level is acting as resistance, preventing further price gains.
• Key support levels to watch are $9.00, $8.86, and $8.66. A four-hour candle closing below $8.66 could accelerate the decline.
• Resistance levels for Avax are at $9.38, $9.85, and $10.23.

Solana Chart Analysis:

• Solana is forming a rising channel in its four-hour chart.
• Recent developments related to the FTX case have negatively impacted Solana.
• Solana has broken the formation resistance and is testing it as support, which may trigger an upward move.
• Important support levels include $24.58, $25.51, and $26.44. A four-hour candle closing below $26.44 could shift the price back into the formation.
• Resistance levels to monitor for Solana are at $27.43, $28.58, and $30.77.

Chiliz Chart Analysis:

• The Chiliz chart does not exhibit a clear formation structure, suggesting a decrease in interest in the CHZ/USD pair.
• CHZ's price rise may depend on developments related to news, as there is no prominent formation.
• Support levels to pay attention to are $0.05662, $0.05694, and $0.05766. A four-hour close below $0.05766 could increase bearish momentum.
• Resistance levels for CHZ are $0.05832, $0.05890, and $0.05946.

Please note that cryptocurrency markets are highly speculative and can be influenced by various factors, including news developments and trading volumes. It's important to conduct thorough research and risk assessment before making investment decisions.

Bitcoin ETFs and Legal wins, spike crypto prices

The cryptocurrency market has experienced significant price increases in the past 24 hours, with Bitcoin rising by 3.40% to reach $29.5K. Ethereum followed closely with a 3% increase. Notably, Ripple's XRP and Solana saw 6% gains, while Bitcoin SV surged by 22%. Even Stacks (STX) recorded a 13.07% increase, reaching $0.6051.

The global cryptocurrency market capitalization has exceeded $1 trillion, standing at $1.12 trillion, marking a 3.6% increase within a day. This substantial growth has left crypto enthusiasts and investors optimistic, with some predicting that if Bitcoin surpasses $30K, it could reach $56K by the end of the year.

Several factors may explain this positive momentum:

1. Bitcoin ETF: Many experts anticipate the approval of spot Bitcoin ETFs in the United States. A Bitcoin ETF approval could address liquidity issues and generate an estimated $600 billion in new demand. CoinMENA's Founder and CEO, Talal Tabaa, believes that Bitcoin's price increase is due to speculation about ETF approval, and as the decision gets closer, more volatility can be expected.

2. No Increase in Interest Rates: The Federal Reserve Chairman, Jerome Powell, has indicated that interest rates will not increase as long as inflation remains in check. Typically, cryptocurrency prices and interest rates are inversely related, and the absence of a rate hike has provided support for crypto prices.

3. Ripple's Legal Victory: The dropping of charges by the U.S. Securities and Exchange Commission (SEC) against two top Ripple executives has been a positive development for the crypto market. This resolution suggests a more favorable regulatory environment for cryptocurrencies.

4. Bitcoin Halving: The next Bitcoin halving is projected to occur in April 2024. Historically, Bitcoin has experienced significant price increases in the 12-18 months following each halving event, making this a promising factor for price appreciation.

5. Money Printing: Concerns about money printing have increased as the U.S. federal budget deficit has doubled over the year to $2 trillion, with a mountain of debt exceeding $33.5 trillion. Investors seek safe havens, including cryptocurrencies like Bitcoin and gold, during uncertain geopolitical situations.

6. Decrease in Bitcoin on Exchanges: Bitcoin holdings on exchanges have continued to decline, with traders opting to hold their BTC in self-custody long-term. This trend is seen as a bullish signal.

Waseem Mamlouk, CEO of NMB Fintech, suggests that global geopolitical situations and the launch of financial instruments on Bitcoin's limited supply are contributing to the positive market dynamics.

As a result, the overall sentiment in the market is bullish, with support for Bitcoin prices increasing, and the launch of spot Bitcoin ETFs on the horizon. Cryptocurrencies, including Bitcoin, are experiencing growing interest and adoption.

Netflix Stock Surge 16%: Will NFLX Stock Sustain Above Key EMAs

Netflix's Strong Performance:
Netflix's stock price saw a significant surge, jumping 16.05% in a single day. This surge was attributed to the company's impressive third-quarter results, where it reported the addition of 8.8 million subscribers. Netflix also introduced new plans, including a subscription option that allows users to watch advertisements and pay less for their content. These positive developments contributed to the stock's bullish momentum.

Technical Analysis:

1. The stock is currently trading above the 50 and 200-day exponential moving averages (EMAs), which are supporting the bullish momentum.
2. The Relative Strength Index (RSI) is at 58.31 points, indicating a bullish sentiment.
3. The Moving Average Convergence Divergence (MACD) line at -9.93 and the signal line at -12.01 are below the zero line, suggesting bullish momentum.

Summary:
Netflix's stock is displaying bullishness in the 1-day time frame, with strong price action and positive quarterly results. The stock is currently trading above key moving averages, indicating a bullish outlook. However, it's essential for investors and traders to wait for a proper setup and avoid making impulsive decisions.

Technical Levels:
Support Levels: $315.52 and $287.60
Resistance Levels: $454.38 and $483.72

Disclaimer:
The analysis provided in this article is for informational and educational purposes only. It should not be considered as financial, investment, or trading advice. Investing in stocks carries risks, and individuals should assess their financial situation and risk tolerance before making any investment decisions.