<img width="696" height="464" src="https://technicalterrence.com/wp-content/uploads/2024/11/Price-Movement-and-Key-Levels.jpg" srcset="https://technicalterrence.com/wp-content/uploads/2024/11/Price-Movement-and-Key-Levels.jpg 696w, https://www.financebrokerage.com/wp-content/uploads/2024/11/BIT-ETHER-1-300×200.jpg 300w, https://www.financebrokerage.com/wp-content/uploads/2024/11/BIT-ETHER-1-1024×683.jpg 1024w, https://www.financebrokerage.com/wp-content/uploads/2024/11/BIT-ETHER-1-768×512.jpg 768w, https://www.financebrokerage.com/wp-content/uploads/2024/11/BIT-ETHER-1-630×420.jpg 630w, https://www.financebrokerage.com/wp-content/uploads/2024/11/BIT-ETHER-1-1068×712.jpg 1068w, https://www.financebrokerage.com/wp-content/uploads/2024/11/BIT-ETHER-1.jpg 1200w" sizes="(max-width: 696px) 100vw, 696px" alt="bitcoin“/>
General analysis
- bitcoin rises in the trading session on November 3, facing rejection from a higher level and indicating sideways momentum.
- ethereum, in the trading session on November 3, was in sync with bitcoin and is currently approaching important support levels.
bitcoin Chart Analysis
<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/11/Price-Movement-and-Key-Levels.png" alt="btc/USD 15-minute chart” width=”1200″ height=”578″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/11/Price-Movement-and-Key-Levels.png 1200w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-60-300×145.png 300w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-60-1024×493.png 1024w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-60-768×370.png 768w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-60-872×420.png 872w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-60-696×335.png 696w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-60-1068×514.png 1068w” sizes=”(max-width: 1200px) 100vw, 1200px”/>
btc/USD 15-minute chart (Source: TradingView)
In the trading session of October 3, 2024, bitcoin showed a bullish rally within a 15-minute period, and finally faced rejection at the $69,600 level.
Currently, looking at the trends on higher time frames (daily time), bitcoin is in a bull run and the price is pausing a higher level, thus creating oscillations.
Watching bitcoin in 15 minutes frame, We can see that the price is currently moving in a tight zone, creating a sideways momentum. The price has faced strong rejection several times, between $69,500 and $69,916.
If we talk about business opportunities, so Scalping trading can be caught in the current market with a strict stop loss. Here are some entry triggers.
- If the price receives support from the swing trend line, then entry can be made based on a strong buy candle with a stop loss below the recent swing and a target of $69,500 and $69,900 based on the trailing stop loss.
- If the price breaks the trend line and settles below it, then plan for a sell-side entry once the price breaks the $68,667 level with a stop loss above the recent high and a target of $67,887.
Note that bitcoin is currently in the sideways zone; you have to use a stick following method.
ethereum Chart Analysis
<img decoding="async" loading="lazy" src="https://technicalterrence.com/wp-content/uploads/2024/11/1730819196_151_Price-Movement-and-Key-Levels.png" alt="eth/USD 15-minute chart” width=”1200″ height=”578″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/11/1730819196_151_Price-Movement-and-Key-Levels.png 1200w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-61-300×145.png 300w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-61-1024×493.png 1024w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-61-768×370.png 768w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-61-872×420.png 872w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-61-696×335.png 696w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-61-1068×514.png 1068w” sizes=”(max-width: 1200px) 100vw, 1200px”/>
eth/USD 15-minute chart (Source: TradingView)
During the trading session on October 3, 2024, ethereum moved backwards and faced rejection at the $2,490 level. Price timing can be clearly seen synchronizing with bitcoin; Therefore, the two main cryptocurrencies are in a sideways zone.
If we look at ethereum on a daily time frame, we can clearly see that the price has been in the channel for a long time; hence there are low moments in the price.
If you plan an entry, make sure the price moves in a strict area that affects the risk-reward ratio. Speaking of entry triggers, a few are mentioned below.
- If the price receives support from the recent trend line, then the target of $2,490 can be entered and losses stopped below the previous low. Make sure to follow the target as a price break above the $2,496 level and a successful liquidation could lead to higher levels.
- If the price breaks the support trend line and settles below it, wait for it to break the $2,450 level and then make an entry towards the $2,420 targets with a stop loss above the previous high.
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