This week's weekly closing is very critical, currently testing the support of the BOLL middle track. The MACD is showing a potential bullish signal with the histogram continuously shortening, and the fast and slow lines are sticking together above the water but have not yet crossed. Therefore, after a short-term pullback, the outlook remains bullish.
The US stock market's Dow Jones and S&P 500 have oscillated for 2-3 weeks after breaking previous highs, while the Nasdaq has pulled back after breaking the W neckline. Before the beautiful country's election in November, it is basically stable. The key point is that the US dollar index has rebounded from 100.15 to 102.68 and is still in an upward trend, looking at the pressure around 104-105, which has maintained a negative correlation with Bitcoin.
Bitcoin
Bitcoin has been under pressure from the BOLL middle track for three consecutive days on the daily chart. Although it is still above the Vegas channel, the price is below the previously mentioned 63200. The three-wave decline is not yet complete, and the view from October 1 remains that it will test the support of the triangle convergence.
On the hourly level, there is a descending wedge looking for a rebound height of 63000 before continuing to decline, while the 4-hour chart shows horizontal support at 61800.
Support: Pressure:
Ethereum
The daily chart has shown narrow fluctuations for four days, and the price is below the double bearish candlestick from September 1-3. The short-term pullback is still not in place, and the overall pattern on the daily chart remains a triangular oscillation. As long as it does not fall below 2111, it will continue to grind in this pattern for a while. Once it breaks below, a drop to 1800 cannot be ruled out.
The ETH/BTC exchange rate is too weak, returning to oscillate around 0.038, and a evening star has appeared on the weekly chart.
Support: Pressure:
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Focusing on K-line technical research, sharing global investment opportunities. Official account: Trading Prince Fusu
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