Technical analysis of Bitcoin and Ethereum courses 22.10.2018

Good evening, dear friends!

Last weekend, for the market have been pretty quiet - cryptocurrency market is still flat. Bitcoin continues its movement within the boundaries of a large triangle, the nearest resistance is at $ 6,450 - $ 6,550, support is $ 6,370, $ 6,250, $ 6,100. In the meantime, the price does not want to stick out from the middle of the border of the Keltner channel, and trading volumes have fallen markedly after the recent pump - players prefer not to risk much in view of the uncertainty of the situation. Also, the number of coins in the longs (Bitfinex) has significantly reduced to 20,000.

There are no hints or strong information points for a breakthrough in either direction, so the idea with a flat by the end of the month remains in force.

Longs vs shorts (Bitfinex)

For the rest of the top coins, the situation is also similar - there would be fuel, there would be growth.

Even though the ethereum has broken through the resistance of a large triangle, it is also in flat and does not show a desire to grow.

Goals: $ 215, $ 220, $ 230

Support: $ 200, $ 195, $ 185

In general, the market is looking down.

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