The penultimate week of October doesn’t start well. The weekend that just ended seems to have already anticipated autumn with crypto volumes falling to the lowest of the year.
In order to find such rarefied trading volumes, it is necessary to go back to September 2016, when market conditions were totally different from the current ones: 2 years ago in fact, the total capitalization was twenty times less and the number of tokens was just a few dozens.
Total capitalisation continues to fluctuate around 210 billion dollars, just as the bitcoin market share remains anchored at 54%.
After closing the gap between the various exchanges, compared to last Monday’s ugly mess, prices are trying to find their centre of gravity in the 6550-6600 dollars area.
With volumes at an all-time low, the technical situation becomes very delicate. Statistically, the low exchanges can cause sudden price deviations causing the classic flock effect in a few minutes.
Better to remain vigilant by administering good doses of caffeine so as not to fall into the boredom trap.
Beware of the short-term support at 6400 and medium-term support at 6000 dollars.
Micro prices continue to fluctuate just over 200 dollars. Since last Thursday, the technical picture has remained unchanged.
The loss of the 190 dollars could trigger dangerous sinkings that could review areas of the lows of mid-September.
Only going above 250 dollars the situation would benefit the bulls.