empty
 
 
22.10.2018 05:08 PM
BITCOIN Analysis for October 22, 2018

Bitcoin is currently residing below $6,500 area having certain indecision and correction along the way. The volatility at the edge of $6,500 has bee going on for a few months in a row which accounts for stabilization of the Bitcoin price. In light of the recent news, some regulations on Bitcoin may be imposed which might lead to a further decrease in value if the market sentiment reacts to it negatively. Meanwhile, the price has formed a short-term Bullish Divergence recently which is expected to lead to certain bullish pressure for a while. However, a daily close above $6,500 is to provide the required confirmation for the upcoming impulsive bullish pressure. As the price remains above $6,000 area, the bullish bias is expected to continue further.

SUPPORT: 6,000

RESISTANCE: 6,500, 7,500

BIAS: BULLISH

MOMENTUM: VOLATILE

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback