In my last analysis, I mentioned that the price being stuck in a range might be a sign of a storm brewing. And the storm did arrive in today’s Asia session,as both the prices of BTC and ETH dropped with the biggest red candles since September 6.

BTCUSD

In my October 4 analysis,I recommended two alternative setups, and one of them should already have been triggered now: Short when the price breaks below 6350, SL at 6550, and TP at 5700.

On the 4H chart, the price of BTCUSD has hit below the triangle. Should the price rise and retest the uptrend line, an opportunity to short will present itself as the black arrow indicates.

ETHUSD

Last week, ETHUSD was kept in a small range, but finally broke free this morning. Rather that to short here, It would be more rational to short when the price rises to the low of October 3 at 215, with a SL at 240 and a TP at 180.

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