Bitcoin & Ethereum – Market Review Monday October 31st

that Bitcoin and Ethereum rebound and provide important technical signals. Video analysis of major changes in these two assets as well as the dollar.

Bitcoin Analysis – Medium Term

Finally something positive with the outbreak of the weekly Tenkan. The main medium-term target is 50% of the Fibonacci ratio at $25,000. This week’s close will be important because it will confirm, or not, the signal from the market. The volume is up, a sign that the buyers are back. Institutional investors are also back to buying, with larger positions than the average for the past two months.

Bitcoin Analysis – Short Term

Here too is the situation positive. The break of the descending trend line were made in large quantities. The indicator ECtHR confirm a bullish correction trend is formed with an ADX (in yellow) that rises. The primary target remains the top of the range and the daily cloud, $22,000. Attention, the Ichimoku indicator calls to wait because The Lagging Span remains blocked by the daily cloud and the trend line. The return on the $22,000 and the $25,000 in extensionwill only happen by breaking this bottom of the cloud.

Ethereum Analysis – Medium Term

As Bitcoin, Marriage room gives a positive signal after the long period of September. Prices are going down Weekly Tenkan with openness and volume. Prices are very close to a strong resistance: weekly Kijun + the medium-term wicking low. If it breaks, it will be straight forward to get $2,236. The support remains unchanged, that’s it Fibonacci ratio at $1,207.

Ethereum Analysis – Short Term

Technically very clean. Ichimoku shows that prices are on the way to give a positive signal. However, the Lagging Span stumbles on the descending trend line and must also cross the cloud. The short-term resistance must definitely be broken, at $1,702. This will top a true Ethereum rebound. This is the same resistance location as the medium-term chart. Then two main goals: $2,233that weekly kijun dishfollowed by the dish of Monthly Kijun on $2,590. Buyers will have to show some strength to get these points.

Dollar analysis – medium term

Loss of medium-term uptrend. The indicator ECtHR shows it with a falling ADX. And Ichimoku confirms with a breakout of the weekly Tenkane. Note, the closing of this week must occur during this one to confirm the signal sent. The main support will therefore be the weekly Kijun, with 108 points.

Dollar analysis – short term

trend reversal will only be confirmed upon exit from the bottom of the daily dollar cloud, which is not the case. The bullish trend line is still holding prices and does not provide a sell signal. That Delayed spanit remains supported by daily thinking. LADX is at its lowesta sign that no short-term trend is taking shape at the moment.

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