You are reading Solomon’s analysis of the first week of October. We analyze the price of BTCUSD and ETHUSD to help you make the best trading decisions.

BTCUSD

BTCUSD came into a very limited consolidation area recently, and is still under the suppression from the downtrend line. My previous trading advice of setups is still effective.

Looking at the 4H chart, we will see that the price is now in a triangle. As it went down, the price touched the uptrend line and went back up. This is probably a signal of short term recovery. Therefore, we can make a short term long position here with a SL at 6430 , and a TP at 6820.

ETHUSD

ETHUSD has been getting increasingly less volatile over the last two days, and the price on the 4H chart is testing a downtrend line resistance. If the price goes up to 240, a short position is recommended, with a SL at 260 and a TP at 186.

This was Solomon’s analysis, we hope this helps you in your daily trading, and thank you for reading.

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