Analysis of futures: sellers increased pressure on bitcoin

Analysis of futures: sellers increased pressure on bitcoin

Forecasts of financial markets are the private opinion of their authors. Current analysis is not a recommendation, trade guide or investment research. FORKLOG and Bybit are not responsible for the results of Token2049: Singapore the work that may arise when using http://coin-graph.website/?p=868 this material to make trade decisions.

On October 13, the US Federal Labor Statistics Bureau reported that the basic inflation rate in September increased to 6.6%. This was the highest value since 1982.

The first cryptocurrency reacted with a fall below the level of $ 18,200, but by the evening the quotes returned to marks above $ 19,000. At the time of publication, Bitcoin is traded about $ 19,600, Ethereum – above $ 1300.

What to expect from the market this week? We analyze the price levels of cryptocurrencies on the BYBIT exchange.

BTCUSD

After a false breakdown of support $ 19,000, the price of BTCUSD quickly rose to the resistance in the zone $ 20,000, but the bears did not release bitcoin above the psychological mark.

This week bulls can re -test $ 20,000. If buyers will not be able to overcome this level again, the asset can update at least below $ 18,200.

Ethusd

Like Bitcoin, Ethereum last Thursday sank below $ 1200 and returned to the strong support of $ 1300.

With the preservation of the ascending dynamics of bitcoin, Ethusd can achieve resistance in the zone $ 1400. If the first cryptocurrency cannot gain a foothold above $ 20,000, it is possible to re -test support about $ 1200.

conclusions

After a false breakdown of Bitcoin and Ethereum support levels, we again went into the side trend. Cryptocurrencies will continue to update minimums below $ 18,000 and $ 1200, respectively.

If buyers of digital gold will not be able to hold the price above $ 20,000, then cryptocurrencies will continue to update minimums below $ 18,000 and $ 1200, respectively.

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