Bitcoin & Ethereum: Market Review for Monday, October 3rd

Little, if any, change in the medium and short term for the crypto market. The detail in video with the analysis of Bitcoin, Ethereum and the dollar.

Bitcoin

Medium term : close below the Fibo rationacci, which opens the door for a major retracement if this week does not offer a bounce. To note RSI divergences and MACD moving average crossovers which supports the theory of a technical rebound, up to the weekly Tenkan as a 1st target.

Short term : No change. Still stuck underneath daily thinking and over short-term support at $18,822. An exit from this area will return to the daily Kijun and at the same time to daily cloud.

Ethereum

Long-term (monthly) : support from $1207 avoids a return to the monthly SSBlocated at $785. MACD remains shortbearish situation maintained.

Medium term : Confirmation that the support for $1207 works in the medium term. The bullish scenario would be a return to the weekly Tenkanhere too, $1627. The bearish scenario would be a return to the zone of $994medium support. Neutral situation.

Short term : if breach of $1326 by candle close, Possible technical rebound towards $1500, represented by SSB’s flat and daily Kijun

Dollar

Medium term : Trend is maintained, return to Tenkan is possible if the short term continues to deteriorate.

The signal will be given by breaking Daily Kijun which will give the top at a retracement towards 109.74 points.

In summary

Cryptos therefore remain trendless. While the stock markets trigger a technical recovery. Note worrying situation for Credit Suisse, which sees Credit Default Swap positions rise following rumors of the Swiss bank’s illiquidity.

A major market recovery will also be possible when the bonding situation is less tense.


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