Ethereum

Bitcoin

Resistance

Renowned crypto analyst il Capo has released a weekend update focusing on the price movements of Bitcoin and Ethereum. In his latest analysis, he highlights key resistance and support levels for both cryptocurrencies. 
<h2 id="bitcoin-s-long-term-channel-and-resistance-levels">Bitcoin’s Long-Term Channel and Resistance Levels</h2> 
According to il Capo, Bitcoin has been moving within a descending channel on its long-term chart since March 2024. Currently, BTC is trading in a crucial resistance zone between $63,000 and $65,000. The analyst pointed out that the recent bounce above $63,000, after dropping to $59,000, may be nothing more than a classic “dead cat bounce.” 
In his view, escalating tensions in the Middle East could bring significant selling pressure to the <a href="https://www.turkishnyradio.com/robert-kiyosakis-final-advice-to-those-not-investing-in-bitcoin/" target="_blank" rel="noopener">Bitcoin</a> market, which may push prices lower. 
<img loading="lazy" decoding="async" class="alignnone size-full wp-image-22987" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/showing-Bitcoin-and-Ethereum-price-charts-with-red-and-green-candlesticks-symbolizing-market-volatility.-In-the-background-Bitcoin-is.webp" alt="showing Bitcoin and Ethereum price charts with red and green candlesticks symbolizing market volatility. In the background Bitcoin is" width="1792" height="1024" title="Experienced Analyst il Capo Releases Weekend Update for Bitcoin and Ethereum: Here Are the Key Levels to Watch 26" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/showing-Bitcoin-and-Ethereum-price-charts-with-red-and-green-candlesticks-symbolizing-market-volatility.-In-the-background-Bitcoin-is.webp 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/showing-Bitcoin-and-Ethereum-price-charts-with-red-and-green-candlesticks-symbolizing-market-volatility.-In-the-background-Bitcoin-is-768x439.webp 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/showing-Bitcoin-and-Ethereum-price-charts-with-red-and-green-candlesticks-symbolizing-market-volatility.-In-the-background-Bitcoin-is-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px"> 
<h2 id="key-support-levels-to-watch">Key Support Levels to Watch</h2> 
If Bitcoin sees a downward move, il Capo identifies the nearest support zone between $48,000 and $50,000. This drop could also affect Ethereum, with corresponding support levels for ETH ranging from $1,800 to $2,000. 
Interestingly, the analyst also suggests that if the market reaches these lower levels, it could present a potential buying opportunity for investors. He emphasizes that despite the volatility, this might be a time to take advantage of market corrections. 
<h2 id="final-thoughts">Final Thoughts</h2> 
As the weekend unfolds, investors are closely monitoring these key levels. The potential downward move in both Bitcoin and Ethereum could shake the market, but as il Capo points out, it may also open doors for new investment opportunities. 
For more updates, follow Turkish NY Radio for the latest insights on the crypto market.

Experienced Analyst il Capo Releases Weekend Update for Bitcoin and Ethereum: Here Are the Key Levels to Watch

Table of Contents

TNYR

Other articles published on Oct 13, 2024

SEC May Challenge Ripple Court Ruling

Craig Wright Files £911 Billion Claim Against Bitcoin Core

MoonBag Triumphs with Uniswap and LBANK Debut, Poised for Next Major CEX Listing on Oct 16

Beyond Kaspa: 3 Alternative Cryptos With the Potential to Turn $150 Into $500,000 by 2025

Hot Weekend Episode 1: Update Round 2

Whales Abandon XRP and Cardano for This $0.02 AI Coin – Why Analysts Predict a 15,000% Breakout i...

Join our free newsletter for daily crypto updates!