BTC bounces off $80K while ETH and ZEC bleed: is oil driving the weakness?
$BTC ~$82,900, +0.6% in 24h, after a low of $80,427 on Oct 8. Brent near $103-105 and the 10-year yield at its highest since 2002 are pressuring risk assets. Support $80,400, resistance $83,400, then $85,000. A close above $83,400 on volume would shift my bias bullish; below $80,400, the four-month higher-lows trend breaks.
$ETH ~$2,482, about -9% from the $2,726 close on Oct 4. Spot ETH ETFs have seen net outflows this month, and price is trading below its 20-day moving average. Resistance sits at the $2,570 area (Oct 7 close), support at $2,400. My view: weak relative to BTC until it reclaims $2,570.
$ZEC ~$1,220, down roughly 28% from the ~$1,700 high in late September, after a low near $1,100 on Oct 8. Grayscale's spot ZEC ETF has seen outflows, and leveraged longs were liquidated. Key levels: $1,100 support, $1,300-1,350 resistance. Very volatile, so I'd size smaller here.
My take: BTC is holding up better than ETH and ZEC. When macro pressure hits, capital rotates back to the strongest asset first.
Which of the three would you buy on a dip, and at what level? ๐
Not financial advice. Do your own research.
$BTC
#BTC #ETHETFS H #zec
$BTC ~$82,900, +0.6% in 24h, after a low of $80,427 on Oct 8. Brent near $103-105 and the 10-year yield at its highest since 2002 are pressuring risk assets. Support $80,400, resistance $83,400, then $85,000. A close above $83,400 on volume would shift my bias bullish; below $80,400, the four-month higher-lows trend breaks.
$ETH ~$2,482, about -9% from the $2,726 close on Oct 4. Spot ETH ETFs have seen net outflows this month, and price is trading below its 20-day moving average. Resistance sits at the $2,570 area (Oct 7 close), support at $2,400. My view: weak relative to BTC until it reclaims $2,570.
$ZEC ~$1,220, down roughly 28% from the ~$1,700 high in late September, after a low near $1,100 on Oct 8. Grayscale's spot ZEC ETF has seen outflows, and leveraged longs were liquidated. Key levels: $1,100 support, $1,300-1,350 resistance. Very volatile, so I'd size smaller here.
My take: BTC is holding up better than ETH and ZEC. When macro pressure hits, capital rotates back to the strongest asset first.
Which of the three would you buy on a dip, and at what level? ๐
Not financial advice. Do your own research.
$BTC
#BTC #ETHETFS H #zec