October 10th Market Analysis from LBank Derivatives

BTC

Hi, traders! Hope you are doing fine in this bear market. BTC(BTC/USD) is consolidating inside a channel between the $18500- $20500 level for a month. Currently, the price is still holding the support of the $19200 level. It is expected to see a bounce up to $20400 from here.

If the price close below the $19200 level then we might see again the $18500 level.

Resistance level to watch out for: $20k

Support level to watch out for: $18k

ETH

ETH(ETH/USD) is still following BTC right now and sideway in the 1200- 1400 box for nearly a month. Breakout of either way might be a trigger for a more accurate decision.

Resistance level to watch out for: $1400

Support level to watch out for: $1250

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