• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Bitcoin and Ethereum Trends: Channel Analysis & Entry Points
Economy

Bitcoin and Ethereum Trends: Channel Analysis & Entry Points

by November 6, 2024
by November 6, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Overall Analysis

Bitcoin started moving in a channel structure, with a price moving downwards. Still, November 4 turned out to be in the seller’s favour.  
Ethereum tried holding the price higher but failed in the second half. Price is moving in the channel, indicating the seller’s market. 

Bitcoin Chart Analysis  

BTC/USD 15-Minute Chart (Source: TradingView)

On the October 4, 2024 trading session, Bitcoin fell after trying to hold the price on a higher level in the first half. It is moving in lower low and lower high patterns, indicating a selling trend in the crypto. 

Furthermore, the price is presently moving in a channel, allowing buyers and sellers to create safe positions. Looking at the current trend, the crypto is trying to retest the resistance zone again. We can see RSI synced with the price trend clearly. 

In such scenarios, market movers have a good opportunity to gain high returns as prices move in a systematic manner, allowing both buyers and sellers to play safe. Thus far, $66,511, which is an important support zone, has not been tested, but the price might go to retest the level so buyers can plan an entry.

Talking about the entry, below are the entry triggers.

The sellers can plan entry if the BTC price gets rejected from a resistant trendline with the stop loss above the previous low and target of $66,832. 
If the price breaks the resistance channel and holds above it, then one can plan buy buy-side entry. However, traders should select a very small stop loss, as instant buying in a selling trend can be risky. They should place the stop loss below the previous swing low or the breakout candle, with a target of $69,759.

Ethereum Chart Analysis 

ETH/USD 15-Minute Chart (Source: TradingView)

On the October 4, 2024, trading session, Ethereum tried holding the price at a higher level but eventually failed and fell sharply. The price can be seen clearly in the selling trend, respecting previous swings and highs. 

Moreover, Ethereum gives smaller swings compared to Bitcoin, as its price is in a strong zone on a daily time frame. 

Apart from small swings, prices are moving in the channel, indicating safe entry for market movers. 

Looking into the chart for an entry, we see the entry trigger mentioned below. 

It is better to let the price retest the resistance zone and face rejection from the level. Once the price rejects the trendline, traders can plan to sell-side entry with a stop loss above the previous swing high and target up to $2357. 

The post Bitcoin and Ethereum Trends: Channel Analysis & Entry Points appeared first on FinanceBrokerage.

You Might Also Like
  • Biden tries to flip the script on negative narrative coming out of disastrous debate with Trump
  • House GOP leaders demand accountability on Trump assassination attempt: ‘So many questions’
  • Jill Biden to lead national ‘Women for Biden-Harris’ program, campaign announces
  • Senate advances $95B Ukraine and Israel aid package, setting stage for expedited vote
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Boeing strike ends after machinists approve new labor contract with 38% wage increases
next post
Home Depot co-founder Bernie Marcus dies

You may also like

Embattled GOP Rep. George Santos, ex-campaign aide seem to be...

September 6, 2023

FBI says interviews of priest, choir director were part of...

December 6, 2023

Biden accuser Tara Reade sues DOJ, seeks millions in damages...

February 1, 2024

Planned Parenthood sues Missouri AG over investigation into trans procedures

April 1, 2023

2024 showdown: New polls this weekend in three key battlegrounds...

August 11, 2024

Former Justice Breyer throws cold water on theory Dobbs leak...

March 25, 2024

Hamas terror attack exposes Al Jazeera for what it really...

March 8, 2024

California Gov. Gavin Newsom endorses even stricter gun control after...

February 2, 2023

Hunter Biden received $250K wires originating in Beijing with beneficiary...

September 27, 2023

Blinken issues warning to China about spy craft in ‘confrontational’...

February 20, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,632 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Disastrous polls prove Democrats need a...

    January 2, 2024

    Country music star releases song endorsing...

    January 11, 2024

    House speaker ‘chaos’ could benefit Dems...

    October 23, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here