empty
 
 
29.10.2018 04:54 PM
BITCOIN Analysis for October 29, 2018

After indecisive correction and a few days of volatility, the price pushed lower impulsively today towards $6,200 area. The impulsive bearish pressure was a bit of a shock for the Bitcoin bulls while certain Bullish Divergence failed to push the price higher. The price has formed an extreme low in MACD Histograms, resulting in Extreme Divergence which is expected to lead to certain Bullish retracement towards $6,400 area where the Kumo Cloud rests. Then, price moved lower again with a target towards $6,000. Despite the recent bearish momentum, the bullish bias still remains intact as the price is holding above $6,000 area with a daily close.

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