📈 Analysis and Prediction (BTC and BCH):

BTC/USDT - The price of #bitcoin has been rising since the week starting September 11. This upward movement confirmed the $25,300 horizontal level as reliable support. However, last week Bitcoin failed to sustain its growth and formed a weekly candle with wicks on both sides, which is considered a sign of indecision. Currently, #btc is trading approximately in the middle of the horizontal range of $25,300 - $30,500. If the ongoing pullback continues, the price may drop by another 7% and reach the descending resistance line at the $26,000 level. Despite the bearish price forecast, a daily close of Bitcoin above the $28,000 resistance area is likely to lead to a 9.50% price increase towards the next resistance level at $30,500. 📉

🚀 BCH/USDT - On June 30, 2023, the price of Bitcoin Cash reached a 15-month peak at $329. Miners rushed to take advantage of the ongoing rally and engaged in active selling. From June 19 to October 9, their cumulative balance decreased from 8.37 million to 5.76 million BCH. This marked the first occurrence of miners' reserves falling below 6 million coins since 2018. However, the crypto kitties seem to not share the miners' bearish sentiments. From September 21 to October 9, addresses with a balance of 100,000 to 1 million #bch increased their reserves from 2.41 million to 2.57 million coins. At the current price of $225, the value of the tokens they acquired amounted to around $4.5 million, which is likely to support Bitcoin Cash at the $200 level. Additionally, there is a significant cluster of 1.77 million addresses that acquired 1.93 million tokens at the maximum price of $208, located around $210. This cluster may prevent further declines. 🐈

What do you think about these developments? 💭