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17.10.201812:24 Forex Analysis & Reviews: Bitcoin analysis for October 17, 2018

Long-term review

Exchange Rates 17.10.2018 analysis

Trading recommendations:

According to the H4 time - frame, I found that Bitcoin is still in the short-term balance and that my last analysis is still active. The high of the balance is set at the price of $6.710 and the low of the balance is set at the price of $6.163. Most recently, I have found successful rejection of the support at $6.313, which is a sign that selling looks risky. My advice is to watch for buying opportunities. The upward take profit level is set at the price of $6.710.

Support/Resistance

$6.454 – Intraday resistance

$6.313– Intraday support

$6.710 – Objective target

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2021
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