FX.co ★ Technical Analysis of ETH/USD for November 1, 2023

Crypto Industry News:

Robert Kiyosaki advises his followers on X to prepare for the biggest crash in the history of the world. Noting that some financial experts encourage investing in stocks and bonds (in a 60-40 ratio), he stressed that people who follow this advice will suffer "the biggest losses."

A famous author of books on financial intelligence wrote on the social media platform X that a big crash awaits us:

"SHIP of FOOLS. Forever and ever financial experts have promoted the idea "Smart Investors invest in 60/40 60% bonds 40% stocks. In 2024 60/40 investor will be biggest losers. Before going down with the ship consider a shift to 75% Gold, Silver, Bitcoin 25% real estate/oil stocks," he began his post.

He pointed out that we were sailing on a "ship of fools." This one will start to sink, but you can still buy a lifebuoy. In his opinion, an investment portfolio today should consist of 75% of gold, silver and bitcoins. 25% is worth investing in real estate and/or oil.

"This mixture may allow you to survive the greatest disaster in the history of the world. Good luck!" - added.

Kiyosaki has been recommending investing in gold, silver and bitcoin for a long time. For the first time, however, he shared very specific advice and indicated what percentage of the portfolio to invest in these assets.

Technical Market Outlook:

The ETH/USD pair has bounced back up from a new local low made at the level of $1,787 and keeps trading inside the tight trading range around the level of $1,800. The next target for bears is seen at the level of $1,779, but currently, the bears are again testing the local trend line support. The intraday technical resistance is seen at $1,804. Any violation of the level of $1,755 will open the road towards the key technical support seen at $1,520.

Weekly Pivot Points:

WR3 - $1,825

WR2 - $1,805

WR1 - $1,794

Weekly Pivot - $1,784

WS1 - $1,773

WS2 - $1,764

WS3 - $1,746

Trading Outlook:

The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. This is the key level for bulls, so it needs to be broken in order to continue the up trend. The key technical support is seen at $1,368, so as long as the market trades above this level, the outlook remains bullish.