Oct.05 Bybit Analysis：A slow week for BTCUSD and ETHUSD
Today I will go through BTCUSD and ETHUSD 4H charts which have both been struggling this week with a lack of momentum…
BTCUSD
Firstly, we have the BTCUSD 4H chart showing that the pair has broken and retested a medium-term trendline at point [1], we also have support at point [3] from the ascending supportive trendline. I am expecting a move up to 6650–6700 in area [2], which is where the major daily descending trendline is. After this we will monitor the price action closely to see whether we get a break above or a bounce back to the downside of that major trendline.
ETHUSD
Next, we have the ETHUSD 4H chart showing the pair has broken a triangle structure shown by [1] and [2]. To be honest, this week the movement on this pair has been very slow and had sideways with hardly any direction; we may hopefully get the much anticipated bearish momentum over the weekend or at the beginning of next week. I expect the Fibonacci ABCD to play out as shown in orange with the D-target being 170.
Thank you for your continued support on my analysis and I hope you use this analysis in line with your own and make great trading decisions! Don’t forget to follow us for more great content!
Where to Find Us:
Website: www.bybit.com
Twitter: www.twitter.com/Bybit_Official
Reddit: www.reddit.com/r/Bybit/
Youtube: bit.ly/2Cmuibg
Steemit: steemit.com/@bybit-official
Facebook: bit.ly/2S1cyrf
Linkedin: bit.ly/2CxHGcz
Instagram: www.instagram.com/bybit_official/
Telegram: t.me/BybitTradingChat
Bybit is not responsible for material posted to this social media site and does not guarantee the content, accuracy, or use of the content in this site. Bybit specifically disclaims all liability for claims or damages that may result from any posting on this site. Bybit accepts no responsibility for the opinions and information posted on this forum, and such opinions do not necessarily reflect the policies of Bybit. In no event shall Bybit be liable to you or anyone else for any decision made or action taken by you in reliance on information on this site.
