BTC,ETH,BNB,ADA,XRP,SOL,DOT,DOGE,LUNA,UNI

Prior to the launch of Bitcoin ETFs this week, counterfeit coins were being sold off, which may be a sign of concern among traders about this historic launch.The ProSharesBitcoinStrategy exchange traded fund (ETF) began trading on the New York Stock Exchange on October 19th under the stock code BITO, and will be recorded in history at that time

Prior to the launch of Bitcoin ETFs this week, counterfeit coins were being sold off, which may be a sign of concern among traders about this historic launch.

The ProSharesBitcoinStrategy exchange traded fund (ETF) began trading on the New York Stock Exchange on October 19th under the stock code BITO, and will be recorded in history at that time.

Market participants may closely monitor the trading volume of the ETF to measure the level of participation of institutional investors. If the reaction is lukewarm within a few days, short-term traders may try to lock in profits, but if demand remains strong, the bullish momentum may further rebound.

The latest CoinShares report as of October 17th shows that institutional funds have flowed into crypto products, bringing the total assets held by institutional management companies to a new record of $72.3 billion. Out of the total inflow of $80 million this week, Bitcoin products attracted the largest share of $70 million.

Can the launch of the new ETF boost market sentiment and push Bitcoin to historic highs, or will short-term traders profit and exit? Is it time for funds to flow out of Bitcoin and into counterfeit currency? Let's study the charts of the top 10 cryptocurrencies.

BTC/USDT

The long shadow on October 17th of Bitcoin showed strong buying during the decline. The bulls attempted to push the price above the high of $62933 on October 15th, but failed. This indicates that bears are vigorously defending the area between $62933 and $64854.

If the seller drops the price below $58963, BTC/USDT may fall to the 20 week moving average (EMA) of $55118. If there is a strong rebound from this support level, it will indicate that market sentiment is still positive and traders are buying on dips.

Then, the bulls will make another attempt to clear the obstacles above their heads. If they succeed, BTC/USDT may begin the next stage of an upward trend, possibly reaching $70000, followed by $75000.

If the EMA support level falls below on the 20th, BTC/USDT may fall to a breakthrough level of $52920. This is an important support level to pay attention to, as if it falls below, BTC/USDT may plummet to the 50 day Simple Moving Average (SMA) ($49270).

ETH/USDT

On October 17th, the bulls successfully defended the neck line in the H&S form, but they were unable to maintain the upward momentum. This indicates that demand has dried up at a higher level. Short sellers pulled Ethereum (ETH) to the neckline again on October 18th.

Breaking the neckline may lead to a drop to the 20th EMA ($3563). The rising moving average and relative strength index (RSI) are in a positive range, indicating that buyers have the upper hand.

If the price rebounds strongly from the 20th EMA, it will indicate that traders continue to accumulate during the decline. Then, the buyer will once again attempt to clear the $4027.88 overhead obstacle.

If they can achieve this, ETH/USDT may retest the historical high of $4372.72. Additionally, if bears lower their prices below the moving average, ETH/USDT may be corrected to $3200.

BNB/USDT

BNB is working hard to take off after completing its head and shoulder reversal on October 13th, but a small positive factor is that the bulls have not kept prices below the neckline.

On the 20th, EMA ($439) is rising, with RSI above 64, indicating that the path with the least resistance is upward. If bulls push the price above $484.70, BNB/USDT may rise to $518.90.

This level may become a rigid resistance level, but if bulls overcome this obstacle, BNB/USDT may rise to the morphological target level of $554.

Contrary to this assumption, if the price turns down and falls below the moving average, it will indicate that bears are returning to the game. Then BNB/USDT may fall to $392.20.

ADA/USDT

Cardano (ADA) trades within a symmetrical triangular pattern, indicating that bulls and bears are hesitant to move in the next direction.

On the 20th, the EMA ($2.20) gradually tilted downwards, and the RSI dropped to around 43, indicating that the advantage of bears was not significant. If the seller lowers it below the triangular support line, ADA/USDT may fall to $1.87.

This level may attract strong buying from bulls. If it breaks through and closes above the triangular resistance line, it will indicate that the bulls have absorbed supply and made a strong counterattack.

Then, the ADA/USDT may rise to $2.47, which may be a resistance, but if the bulls overcome this obstacle, the upward movement may extend to $2.80.

XRP/USDT

XRP attempted to rise above the resistance level of $1.24, but ended at $1.18 on October 16th. This may have attracted short-term traders to take profits, causing them to fall below the moving average on October 17th.

The long shadow on the day shows that bulls are actively defending their psychological level of $1. The two moving averages have leveled off and the RSI is close to the median, indicating a range of fluctuations in the short term.

XRP/USDT may consolidate between $1 and $1.24 for a few days. If it breaks through and closes above $1.24, it may clear the way for an upward move to $1.41, while if it falls below $1, it may lower XRP/USDT to $0.85.

SOL/USDT

Solana (SOL) has been consistently above the downward trend line for the past three days, but bulls are working hard to initiate an upward movement. This indicates that bears have not yet given up and are selling at high points.

If bears pull the price below the 50 day moving average ($151) and maintain it, the SOL/USDT may fall to $137.61. If it falls below and closes at this support level, it may clear the way for further decline to an important level of $116.

On the contrary, if the price rebounds from the current level and remains above $167.65, it will indicate that the buyer is back in the game. Afterwards, SOL/USDT may rebound to the Fibonacci retracement level of 61.80% at $177.80.

DOT/USDT

DOT broke through the upward resistance of $38.77 on October 13th, but bulls failed to leverage this force. This indicates that bears are unwilling to slack off and sell every time they rise.

The first sign of weakness will be a decline and close at a breakthrough level of $38.77 and below the 20 day EMA ($36.64). Then the DOT/USDT may fall to the 50 day moving average ($33.05).

The rising 20 day EMA and RSI located in the positive zone indicate that the path with the least resistance is upward.

If the price rebounds from the current level or $38.77 and breaks through $44.78, it will indicate that bulls are returning to the game. Then DOT/USDT may retest the historical high of $49.78.

DOGE/USDT

On October 17th, bears pulled the price below the 20 day EMA ($0.23), but the long shadow of the day indicated accumulation at a lower level. The strong buying on October 18th pushed Dogecoin (DOGE) above the downward trend line.

The long shadow line on October 18th shows that bears are actively defending the downward trend line. If the bulls fail to maintain prices above the downward trend line, DOGE/USDT may fall again to $0.21.

A rebound from this strong support level will cause the DOGE/USDT to hover between $0.21 and the downward trend line in the coming days.

If the buyer maintains the price above the downward trend line, it will indicate that the adjustment may have ended. Then, the DOGE/USDT may rebound to $0.32 and then rise to $0.35.

LUNA/USDT

Terraprotocol's LUNA token has failed to break through the 20 day EMA ($38.13) in the past few days, indicating that sentiment has turned negative and bears are selling in a rebound.

Short sellers will now attempt to maintain prices below their 50 day moving average ($36.38). The moving average is about to show a dead cross, indicating that the trend is favorable for bears.

If the price drops below $34.86, LUNA/USDT may fall to $32.34. This is an important support level to pay attention to, as if it yields, the selling may intensify. Then LUNA/USDT may fall to $25.

Bulls will have to push and maintain prices above the 20 day EMA to indicate that the correction may have ended.

UNI/USDT

Uniswap (UNI) broke through and closed above the neckline on October 16th, but it turned out to be a bull trap as bears quickly pulled prices back below the neckline on October 17th.

If bears pull prices below the moving average, UNI/USDT may fall to $22.15. If this support is breached, the sell-off may accelerate, and LUNA/USDT may fall to $18 next.

The moving average remains flat, with RSI slightly higher than the median, indicating a balance between supply and demand.

If the bulls push the price up and maintain it above the neckline for a few days, this balance may tilt towards the bulls. Afterwards, UNI/USDT may rise to $31.41, and if this resistance is broken, the upward trend may reach the morphological target of $36.98.