HiLo Morning Brief · Oct 21 — BTC and ETH Break Descending Resistance (1/2)
BTC has broken above its previous descending resistance line in the near term. After a choppy rise overnight, price reclaimed this key trendline and is now around 83K, showing some short-term improvement. The next step is to see whether the breakout can hold and extend.
ETH has also broken above its previous descending resistance line and is now near 2,450, showing similar signs of a short-term recovery. Further strength in BTC and ETH still needs confirmation from subsequent price action and broader participation among major coins.
In terms of relative strength, ZEC is leading in the short term, while PEPE and WLD have also posted notable gains. Overall, the market is showing signs of recovery. After retreating from the highs, the market has been consolidating for nearly half a month. A sustained rebound would help repair short-term sentiment, but its durability and follow-through from more major coins still need to be watched.
Key near-term levels are around 84K resistance for BTC and 2,500 for ETH. Whether prices can continue higher after breaking their descending resistance lines will be important in assessing the rebound. If they meet resistance again, the market may return to consolidation.
#HiLoMorningBrief $BTC $ETH #CryptoMarket
BTC has broken above its previous descending resistance line in the near term. After a choppy rise overnight, price reclaimed this key trendline and is now around 83K, showing some short-term improvement. The next step is to see whether the breakout can hold and extend.
ETH has also broken above its previous descending resistance line and is now near 2,450, showing similar signs of a short-term recovery. Further strength in BTC and ETH still needs confirmation from subsequent price action and broader participation among major coins.
In terms of relative strength, ZEC is leading in the short term, while PEPE and WLD have also posted notable gains. Overall, the market is showing signs of recovery. After retreating from the highs, the market has been consolidating for nearly half a month. A sustained rebound would help repair short-term sentiment, but its durability and follow-through from more major coins still need to be watched.
Key near-term levels are around 84K resistance for BTC and 2,500 for ETH. Whether prices can continue higher after breaking their descending resistance lines will be important in assessing the rebound. If they meet resistance again, the market may return to consolidation.
#HiLoMorningBrief $BTC $ETH #CryptoMarket