October 12th Market Analysis from LBank Derivatives
BTC’s volatility has been very low for a couple of weeks now. BTC(BTC/USD) is currently going back to the strongest support level at $19000. It is more likely the price will bounce back to $20400. It is recommended to long from $18500 to $19000.
Resistance level to watch out for: $20.4k
Support level to watch out for: $18.5k
ETH(ETH/USD)’s situation is similar to BTC’s. We are back inside the sideways path of narrow $1275-$1360 where the price is sitting at the lower side of this sideways path. Looking forward to a bounce from here.
Resistance level to watch out for: $1400
Support level to watch out for: $1250
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