September 28th Market Analysis from LBank Derivatives
Big volatility happened yesterday and the price ended up staying in the range between $20000 and $18000. Nothing really changes. We want to believe that it is going to form a “Double bottom” here so that BTC(BTC/USD) can head to $25000 afterward. Below $18000 is very dangerous now, there is no liquidity, and accordingly, a fall to at least $12000 is very possible.
Resistance level to watch out for: $20k
Support level to watch out for: $18k
ETH(ETH/USD) is still following BTC right now. However, one thing you might pay attention to is the Data from ‘ultrasound.money’ shows that ETH was moving toward deflation over the last 24 hours. The expectation that the deflation will make the price pump increases the possibility of a “Double Botton” here.
Resistance level to watch out for: $1400
Support level to watch out for: $1250
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