10.20 Weekend BTC and ETH market summary: key resistance has been broken, the general direction is bullish
This week, affected by the expansion of Trump's election advantage and the situation on the peninsula, the market ushered in a wave of strong rise, but the volatility of Bitcoin is more obvious than that of CNY and Ethereum, and the trend chart is also bullish. Both long and short positions are arranged. The general direction of bullishness was given on the 12th. You can't go wrong by following the general direction. The weekend is oscillating at a high level, and the callback is small. Friends who touch the top need to wait patiently for opportunities
From the general direction of the weekly chart of BTC: a triangular wedge-shaped upward market is formed, and the upper resistance range is between 69500-70500. The weekend market fluctuations are not very large. Basically, it has been in a stable upward market since the surge on the 14th, so there should not be much tonight's catch-up. From the general direction of technical indicators, the monthly line continues to be bullish, and then focus on the October low closing line. If it is within the resistance range, there will be a large correction before the interest rate cut in November. At that time, you can arrange more medium and long-term positions, especially spot positions, which is a direct profit market.
From the daily chart of ETH: there is a large space above, focus on the daily lifeline at 2770, and the 4-hour and 6-hour technical indicators are running above the middle track, especially the 4-hour OBV indicator continues to step back on the yellow line upward, and the MACD green column shrinks. Combined with the trend chart, it shows that the bullish space is very large. Once it breaks through 2700, it will be strongly bullish. If it is a pin, continue to look near the daily lifeline.
The weekend volatility is small, so I won’t give you a strategy. Wait until the market comes out on Monday before entering the market!
