Price Movement and Key Levels

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

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

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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