The weekend failed to awaken a bullish momentum for crypto investors, and both Bitcoin (BTC) and Ether (ETH) dropped on October 31. Now the bulls will try to reach the close of the third consecutive week and the first close of the month ever exceeding this level. Psychological level 60,000 dollars.

Another level of interest for traders is $ 63,000 because PlanB, the creator of Stock-to-Flow, predicted this level as a “worst case scenario” for October. PlanB’s worst-case theory was recently confirmed in August and September.

See daily cryptocurrency market data. Source: Coin360
Regardless of short-term interest, investors should remember that Bitcoin was launched on January 3, 2009 at $ 0.0008 and then rose 8,374,999,900% to a peak of $ 67,000.

The path of the scammers was not easy, as there were many painful fixes along the way, and each time several analysts called for an end to Bitcoin. But in hindsight, all of these dips have proven to be good buying opportunities.

Today marks the thirteenth anniversary of the Bitcoin White Paper, released on October 31, 2008, which paved the way for the greatest potential financial turmoil in modern history.

Let’s analyze the charts of the top 5 cryptocurrencies that could catch the attention of traders in the next few days.

Bitcoin formed a flag pattern, but the bulls failed to push the price above it. Failure to overcome overall resistance could have triggered a short-term sell, pushing price back to the 20-day Exponential Moving Average (EMA) ($ 59,679).

BTC / USDT daily chart. Source: TradingView
If the bears pull the price below the 20-day EMA, the BTC / USDT pair could fall to the target of the pattern. This is an important support to protect the bulls because a break below it will invalidate the setup. After that, the pair may drop to the next support level of $ 52,920.

If the price bounces off the 20-day moving average, the bulls will make another attempt to push the pair towards the flag. If successful, the pair could test the all-time high of $ 67,000 and then rally to the model’s target level of $ 89,476.12.

4-hour BTC / USDT chart. Source: TradingView
The 4 hours chart shows that the bears are aggressively defending the resistance line. The pair fell below the moving averages, and a break below $ 60,000 could lead to a retirement into the guide.

This level is expected to attract strong buying from buyers. The play from the guide can keep the pair in the downdraft. The bulls should push the price and hold it above the resistance line to signal the possible end of the retracement phase.

On October 29, the ether broke through the historical maximum of $ 4375, but the bulls failed to continue the upward movement. The bears pushed the price below the October 30 breakout, indicating that sellers are active at higher levels.

ETH / USDT daily chart. Source: TradingView
ETH / USDT may fall to the 20-day moving average ($ 4010), which is important support for the protection of the bulls. If the price bounces off this support, the bulls will try to push the pair above $ 4,460.47.

If this happens, the couple can continue their journey towards the psychological $ 5,000 mark. Conversely, a break below the 20-day EMA could push down to $ 3,888. If the price bounces off this level, the pair may remain in a certain range for several days.

Bears have to cut the price and keep it below $ 3,888 to gain an advantage. This could open the door for a dip to the 50-day simple moving average ($ 3,564).

4-hour ETH / USDT chart. Source: TradingView
In recent days, the pair has been moving within the ascending channel. If the price bounces off the 50-SMA, the bulls will try to push the pair above $ 4,460.47. Then the pair can rise to the resistance line of the channel. Erupting and closing a channel can accelerate an uptrend.

Alternatively, if price breaks below the 50-SMA, it is likely to fall to the channel support line. A rebound from this level could keep the trend going, but a break below the channel would be the first sign that the bulls could lose control.

Binance Coin (BNB) broke the $ 518.90 upper resistance on October 29, but the bulls failed to take advantage of this advantage. This indicates a lack of demand at higher levels.

BNB / USDT daily chart. Source: TradingView
The Bears dropped the price below $ 518.90. If the BNB / USDT pair continues to move below this level, the next stop could be psychological support at $ 500, followed by a 20-day moving average ($ 480). This is an important support to protect the bulls.

Source: CoinTelegraph