Analysis of futures: sellers increased pressure on bitcoin
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On October 13, the US Federal Labor Statistics Bureau reported that the basic inflation rate in September increased to 6.6%. This was the highest value since 1982.
The first cryptocurrency reacted with a fall below the level of $ 18,200, but by the evening the quotes returned to marks above $ 19,000. At the time of publication, Bitcoin is traded about $ 19,600, Ethereum – above $ 1300.
What to expect from the market this week? We analyze the price levels of cryptocurrencies on the BYBIT exchange.
After a false breakdown of support $ 19,000, the price of BTCUSD quickly rose to the resistance in the zone $ 20,000, but the bears did not release bitcoin above the psychological mark.
This week bulls can re -test $ 20,000. If buyers will not be able to overcome this level again, the asset can update at least below $ 18,200.
Like Bitcoin, Ethereum last Thursday sank below $ 1200 and returned to the strong support of $ 1300.
With the preservation of the ascending dynamics of bitcoin, Ethusd can achieve resistance in the zone $ 1400. If the first cryptocurrency cannot gain a foothold above $ 20,000, it is possible to re -test support about $ 1200.
After a false breakdown of Bitcoin and Ethereum support levels, we again went into the side trend. Cryptocurrencies will continue to update minimums below $ 18,000 and $ 1200, respectively.
If buyers of digital gold will not be able to hold the price above $ 20,000, then cryptocurrencies will continue to update minimums below $ 18,000 and $ 1200, respectively.
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