Technical analysis Bitcoin. BTC-USDT on October 11, 2018

October 14, 2018


In addition to yesterday’s post, we can see the key levels of the support and resistance on the chart which Bitcoin will meet following one of the offered scenarios. If the uptrend support is broken, there will be a high possibility for the market to test the resistance at 6700 and if it breaks it, BTC will be bullish and will be able to go up to 7500 level.  It will be difficult to break it from the first time and we can have a pullback after. If to look at the market more globally, the breakout through 5600 support will indicate the continuation of the downtrend and there will be more chances to go down (to  4000). If we overcome the resistance at 7500 it will give the market strength to go further and the breakout of 8500 will be a very positive even for Bitcoin.

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