Bitcoin & Ethereum – Market Review Monday, October 31

Bitcoin & Ethereum – Market Review Monday, October 31

the Bitcoin and Ethereum rebound and give key 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 breakout of the weekly Tenkan. The main medium-term objective is the 50% of the Fibonacci ratio at $25,000. This week’s close will be important because it will confirm, or not, the signal sent by the market. Volumes are up, a sign that buyers are back. Also, institutional investors are back to buying, with larger positions than the average for the past two months.

Bitcoin Analysis – Short Term

Here too, the situation is positive. The break of the descending trendline was made on large volumes. The indicator EMD confirm the bullish correction trend forming, with an ADX (in yellow) that increases. The primary objective remains the top of the range and the daily cloud, $22,000. Attention, the Ichimoku indicator calls for waiting, because the Lagging Span remains blocked by the daily cloud and the trendline. The return on the $22,000 and the $25,000 in extensionwill only be done by breaking this bottom of the cloud.

Ethereum Analysis – Medium Term

As the Bitcoin, theEhtereum gives a positive signal after the long range of September. Prices drive down Weekly Tenkan with frankness and volume. Prices are very close to a strong resistance: weekly Kijun + the mid-term wicking low. If it breaks, it will be straight ahead to get the $2,236. The support remains unchanged, it is the Fibonacci ratio at $1,207.

Ethereum Analysis – Short Term

Technically very clean. Ichimoku shows that prices are on their way to giving a positive signal. However, the Lagging Span stumbles on the descending trendline and must also cross the cloud. The short-term resistance must absolutely be broken, at $1,702. This will top off a real Ethereum rebound. This is the same resistance location as the medium term chart. Thereafter, two major objectives: $2,233the weekly kijun dishfollowed by the dish of Monthly Kijun at $2,590. Buyers will have to show some strength to get those points.

Dollar Analysis – Medium term

Loss of mid-term uptrend momentum. The indicator EMD shows it with a falling ADX. And Ichimoku confirms with a breakout of the weekly Tenkane. Attention, the closing of this week must be done below this one to confirm the signal sent. The main support therefore becomes the weekly Kijun, at 108 points.

Dollar Analysis – Short Term

trend reversal will only be confirmed by exit from the bottom of the daily dollar cloud, which is not the case. The bullish trendline still holds prices and does not give a sell signal. The Lagging Spanit remains supported by the daily tenkan. LADX is at its lowesta sign that no short-term trend is taking shape for the moment.

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