BTC, Ether recent market trend depth analysis

The trading volume has been very low in the past few days, with almost no fluctuations. The CPI data released last Friday had little impact on the entire market. The CPI data announced on Friday was favorable for BTC and Ether, but it only caused a brief spike before a downward trend began. Additionally, the interest rate meeting on the 30th of this month is approaching, and it can be basically confirmed that there will be a 25 basis point cut, similar to September. If the market continues to be sluggish, a 50 basis point cut may be possible in December. This time, everyone seems to have lost interest in the rate cut and is no longer experiencing FOMO. Is it because they were too disappointed with the rate cut in September? Is everyone bearish? The recent trends certainly make people overly bearish. Why? Because they think that any slight rebound will immediately drop back down, making it very difficult for those who want to go long. I have been watching the market these past few days; there's really been no movement, so it's better to be patient and wait for the market to show a direction.

Back to BTC, BTC has been moving up in small steps these days, with resistance concentrated in the range of 113500 to 115500. If it cannot break through this 2000-point range, it will continue to move in a sideways trend. The effective support below is in the range of 107000 to 106000. Even if it drops below this position, it can quickly recover, so entering a long position at this level is very good. One thing to note is that although BTC is moving up, the trading volume has been continuously decreasing.
BTC today's upper resistance is at 111800 113600 115800
The support below looks at 109500 107000 103500

Ether has also not seen much volatility these days. The 4-hour price K-line has formed a converging triangle pattern. In previous articles, I mentioned convergence. In a triangular pattern, you can place orders close to the triangle boundary, which is simple and practical. When the market breaks through the triangle boundary, we can enter the market in the direction of the trend. Currently, it seems we are about to break out of the trend as it has been consolidating for several days. The current resistance for Ether is around 4100. If this resistance is broken, long positions can be pursued. The support level is in the range of 3800 to 3700, and it is suitable to go long in this range with a favorable risk-reward ratio.

Give the market some time, and give yourself some time!

Rational perspective, no investment advice! ()$BTC