2024.10.31.BTC.ETH Intraday Market Analysis,
Good afternoon, brothers. Dubai's time difference is four hours, so the market updates will be relatively late. Please bear with me,
BTC
Currently, Bitcoin is consolidating at a high level, with support and resistance at 72000. Based on the four-hour closing,
If the four-hour closing falls below 72000, it will trigger a four-hour level correction, with initial targets at 71460, 70000, and 69000.
If the four-hour closing does not fall below 72000, and the four-hour closing breaks above 73000, it will form a four-hour intermediate upward trend, definitely aiming for a new historical high.
It can easily break the historical high, so there’s not much pressure to push it up,
For those without positions, it is still advisable to give up on this market wave. The references for action are the supports mentioned above,
ETH
Ethereum is relatively weak and has currently fallen below the four-hour support. If the four-hour closing at 16:00 does not close above 2658, it will enter a correction,
With support at 2600 and 2572.
If you want to go long, you must wait for the four-hour closing to be above 2658, with targets at: 2723 and 2770.
