BTC/ETH Short-Term Analysis: Bitcoin Consolidates After Pullback, Ethereum Shows SupportYesterday (October 26, 2023), BTC reached a low of 66,536 and a high of 67,825, with a volatility of 1,288 points and an amplitude of 2.0%
BTC/ETH Short-Term Analysis: Bitcoin Consolidates After Pullback, Ethereum Shows Support
Yesterday (October 26, 2023), BTC reached a low of 66,536 and a high of 67,825, with a volatility of 1,288 points and an amplitude of 2.0%. ETH reached a low of 2,606 and a high of 2,671, with a volatility of 65 points and an amplitude of 2.5%.
In the early morning trading today, BTC is currently hovering around 67,370, consolidating after a minor pullback. In the short term, there is support near 66,350, where you can consider going long, but if it breaks below 65,900, you should stop loss. The short-term resistance level is at 68,200.
Regarding ETH, the price is currently near 2,620. Below, the POC indicator support level is at 2,550. You can look for a minor rebound if it reaches that level, but don't go long in the long term. The Ethereum W-bottom pattern has failed, and the mid-term retracement is expected to be around 2,450. The short-term resistance level is at 2,680, and the short-term support level is at 2,550.
Overall, both Bitcoin and Ethereum are currently near support levels. It is recommended to observe the short-term trend. If they continue to fall below the short-term support levels, the risk will increase, indicating a potential reversal from an uptrend to a downtrend.
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