Oct.10 Bybit Analysis：BTCUSD and ETHUSD respecting chart structures very well

Today, I will go through the BTCUSD and ETHUSD charts which seem to be showing some nice price action as they are moving in line with technical chart structures…

BTCUSD

Firstly, the BTCUSD 4H chart shows that the pair is trading within a symmetrical triangle and we have just touched the lower trendline at [1]. Whilst the pair continues to trade within this triangle it is important to not get greedy and trade every bearish and bullish move within it. I am expecting another touch of the upper trendline at [2], before a break of the triangle and a downtrend heading to [3] at a target of 6150.

ETHUSD

Next, the ETHUSD 1H chart shows that the pair has broken, at [1], and retested, at [2], a symmetrical triangle and it looks like the bulls will enter the party and take this pair to the 240 level at [3] which is confluent with previous hourly resistances.

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