The monthly candle closed yesterday
It was pretty average
Today, the weekly candle closed
The weekly chart is also in a bullish pattern
Based on the current indicators
The weekly MACD is close to a reversal point
After the weekly fast and slow lines first crossed above the zero axis, they have now returned to near the zero axis
Usually, after first crossing above the zero axis, when they return near it, the market will resist crossing back below it
Recently, the bearish news broke that Binance was hacked
The only major news left should be Trump's midterm elections
Historically, the party in power tends to lose the midterms
As long as the loss isn't too bad, that's fine
After the midterm election results come in on November 4
The market should start its weekly rebound
Bitcoin's key Fibonacci 0.786 level is currently around 76,500
Ethereum's Fibonacci 0.618 level is at 2,150
Ethereum's weekly chart pattern is much like Bitcoin's
The market has been grueling for over a month
This month, it should turn upward
Once all the bearish news is out, that's bullish
Without any particularly significant news affecting the market
It will return to its original trend
The current trend is that the bull market is back$BTC
It was pretty average
Today, the weekly candle closed
The weekly chart is also in a bullish pattern
Based on the current indicators
The weekly MACD is close to a reversal point
After the weekly fast and slow lines first crossed above the zero axis, they have now returned to near the zero axis
Usually, after first crossing above the zero axis, when they return near it, the market will resist crossing back below it
Recently, the bearish news broke that Binance was hacked
The only major news left should be Trump's midterm elections
Historically, the party in power tends to lose the midterms
As long as the loss isn't too bad, that's fine
After the midterm election results come in on November 4
The market should start its weekly rebound
Bitcoin's key Fibonacci 0.786 level is currently around 76,500
Ethereum's Fibonacci 0.618 level is at 2,150
Ethereum's weekly chart pattern is much like Bitcoin's
The market has been grueling for over a month
This month, it should turn upward
Once all the bearish news is out, that's bullish
Without any particularly significant news affecting the market
It will return to its original trend
The current trend is that the bull market is back$BTC
