【HiLo Big Gray’s Morning Brief】10/21 · BTC and ETH break above descending resistance (1/2)
Good morning this Wednesday!
BTC has broken above its previous descending resistance line in the short term. After fluctuating upward last night, the price moved back above this key resistance line and is now around 8.3, showing signs of a short-term upturn. The next thing to watch is whether the breakout can hold and continue.
ETH has also broken above its previous descending resistance line and is now around 2,450, likewise showing signs of a short-term recovery. Whether BTC and ETH can continue to strengthen will need to be confirmed by subsequent price action and how major coins move together.
In terms of relative market strength, ZEC has led gains in the short term, while PEPE, WLD, and others have also performed well, pointing to a broad recovery. The market has been fluctuating and consolidating for nearly half a month after pulling back from its highs. If this rebound continues, it could help improve short-term sentiment; however, it remains important to watch whether the rebound lasts and whether more major coins follow suit.
Key short-term levels to watch: resistance for BTC is around 8.4, and for ETH, around 2,500. Whether prices can continue upward after breaking above their descending resistance lines is an important indicator of whether the rebound can continue. If they meet resistance again, the market could return to a range-bound consolidation.
#HiLo大灰哥早报 #BTC #ETH #Crypto Market
Good morning this Wednesday!
BTC has broken above its previous descending resistance line in the short term. After fluctuating upward last night, the price moved back above this key resistance line and is now around 8.3, showing signs of a short-term upturn. The next thing to watch is whether the breakout can hold and continue.
ETH has also broken above its previous descending resistance line and is now around 2,450, likewise showing signs of a short-term recovery. Whether BTC and ETH can continue to strengthen will need to be confirmed by subsequent price action and how major coins move together.
In terms of relative market strength, ZEC has led gains in the short term, while PEPE, WLD, and others have also performed well, pointing to a broad recovery. The market has been fluctuating and consolidating for nearly half a month after pulling back from its highs. If this rebound continues, it could help improve short-term sentiment; however, it remains important to watch whether the rebound lasts and whether more major coins follow suit.
Key short-term levels to watch: resistance for BTC is around 8.4, and for ETH, around 2,500. Whether prices can continue upward after breaking above their descending resistance lines is an important indicator of whether the rebound can continue. If they meet resistance again, the market could return to a range-bound consolidation.
#HiLo大灰哥早报 #BTC #ETH #Crypto Market