The crypto market is still having a hard time, but October is finally coming to an end. A new month means new opportunities. Will November be a good month for us? Let’s find out together.
7 Days Heatmap
The 7-day crypto heatmap is still completely red, with BTC and ETH recording new local lows this week. Altcoins followed with an even deeper dip, making it one of the worst weeks of the year.
BTC Analysis
As per our previous BTC update, it’s still struggling around the $105,000 support level.
At least it hasn’t broken this support yet, unlike most altcoins.
As long as the $105,000 support level holds, the overall sentiment remains bullish for BTC and the major large-cap altcoins.
If $105,000 is lost, expect more downside toward the $100,000 round number.
ETH Analysis
As per our latest ETH analysis, it rejected the $4,000–$4,100 resistance zone and has been losing strength since.
Currently, ETH is trading in the middle of its range, between $3,500 and $4,000.
As ETH approaches the $3,500 support level, we’ll be looking for long opportunities targeting the upper boundary of the falling red channel around $4,500.
Quote of the week
Yesterday’s home runs don’t win today’s games.
~ Babe Ruth
Closing Remarks
In summary, the crypto market remains under pressure as October ends, with BTC and ETH hitting new local lows and altcoins experiencing even deeper declines.
Despite the bearish momentum, BTC is still holding above the key $105,000 support level, which keeps the overall sentiment cautiously bullish as long as it holds.
Meanwhile, ETH continues to range between $3,500 and $4,000 after rejecting major resistance, with potential upside toward $4,500 if the $3,500 support holds strong.
