Hello, dear colleagues.
According to BCHUSD, we expect a key development of the situation for the medium-term upward structure of October 23 and the level of 313.21 is the key resistance for the top. According to Ethereum, we also expect the development of an upward trend this week and we expect the main development of the trend after the breakdown of 200.50.
Forecast for November 5:
Analytical review of cryptocurrency in H1 scale:
For the BCHUSD, the key levels on the H1 scale are 346.38, 313.21, 286.60, b 275.85, 246.64, 229.36, and 198.58. At the moment, it is time for the development of the upward cycle of October 23. We expect the movement in the main trend after the breakdown of the level of 313.21. In this case, the first target – 346.38 and in the area of 346.38 – 368.57 is the short-term downward movement, as well as price consolidation. The potential value for the top is the level of 399.45, upon reaching which we expect a pullback to the bottom.
The movement to the correction is possible after the breakdown of 275.50. The potential target – 246.64 and the range of 246.64 – 229.36 is the key support for the top. Its passage of the price will lead to the development of a downward trend. The first target – 198.58.
The main trend is the long-term initial conditions for the top from October 23.
Trading recommendations:
Buy: 313.21 Stop Loss: 275.85 Take Profit: 346.38
Buy: 369.00 Stop Loss: 346.00 Take Profit: 399.00
Sell: 275.50 Stop Loss: 313.20 Take Profit: 247.00
Sell: 229.00 Stop Loss: 250.00 Take Profit: 199.00
For the Ethereum, the key levels on the H1 scale are 231.77, 214.78, 200.42, 189.47, 175.10, 167.47, 163.99, and 153.32. In the near future, we expect a key development of the upward cycle from October 23. The continuation of the upward movement is expected after the breakdown of 189.50. In this case, the target is 200.40 and consolidation is near this level. The breakdown of 200.50 will lead to a pronounced movement. The target – 214.78 and consolidation is also near this level. We consider the level of 231.77 as a potential value, from this level, we expect a pullback to the correction.
The short-term downward movement is possible in the range of 175.10 – 167.47, hence the high probability of a reversal to the top. The passage of the price of the range of 167.47 – 163.99 will lead to the development of a downward trend. The target – 153.32.
The main trend is the long-term initial conditions for the top of October 23.
Trading recommendations:
Buy: 189.50 Stop Loss: 173.00 Take Profit: 200.00
Buy: 201.00 Stop Loss: 189.00 Take Profit: 214.50
Sell: 175.00 Stop Loss: 189.50 Take Profit: 167.50
Sell: 163.50 Stop Loss: 180.00 Take Profit: 153.50
