Market Analysis: October 17 - November 16

Posting my commentary on BTC & ETH from October 17 and updates from November 16.

These comments were initially posted on twitter; thought I’d also post it here.

This is from my previous update on BTC from October 17th.

Update: price action has mostly been in line with my expectations. Price hit the target zone that coincides with the horizontal upper median line in blue.

What I’m paying attention to now is a classic Wyckoff distribution pattern, a repeat of the price action from earlier this year. Here’s the previous distribution pattern:

Here’s the same pattern superimposed with recent price action. Starting to look similar to the previous distribution. If history is going to rhyme this time, we’ll see new highs before another significant correction.

On ETH, this is from my previous post on October 17th:

Update: as expected price reached the target price zone. Price then failed to reach the upper red median line. This is a signal of weakness but looks like the upper blue median line is providing support.

Please do not consider this as investment advice. Doing your own research is way more fun.