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09.10.201812:11 Forex Analysis & Reviews: Bitcoin analysis for October 09, 2018

Long-term review

Exchange Rates 09.10.2018 analysis

Trading recommendations:

According to the H1 time - frame, I found that Bitcoin is in a consolidation phase for the short term. My advice is to watch for a breakout of the resistance trendline to confirm further upward continuation. The take profit levels are set at the price of $6.659 and at the price of $6.750.

Support/Resistance

$6.617 – Intraday resistance

$6.505– Intraday support

$6.659 – Objective target 1

$6.750 – Objective target 2

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*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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