04.10.201812:13 Forex Analysis & Reviews: Bitcoin analysis for October 04, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Trading recommendations:

According to the H1 time - frame, I found a breakout of the bearish flag pattern in the backgorund, which is a sign of weakness. Most recently, I found that another intraday bearish flag is in creation and my advice is to watch for a potential breakout of the support trendline to confirm further downward continuation. The take profit levels are set at the price of $6.288 and at the price of $6.075.

Support/Resistance

$6.463 – Intraday resistance

$6.359– Intraday support

$6.288– Objective target 1

$6.075 – Objective target 2

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

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade