18.10.201812:13 Forex Analysis & Reviews: Bitcoin analysis for October 18, 2018

Long-term review

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Trading recommendations:

According to the H4 time - frame, I found that Bitcoin is balancing at the price of $6.405. Anyway, I found that a potential ascending triangle (bullish pattern) is being in progress, which is a sign that buying is a preferable strategy. My advice is to watch for a potential breakout of resistance at $6.460 to confirm a further upward movement. If you see a breakout of resistance, take profit level will be set at the price of $6.710.

Support/Resistance

$6.460 – Intraday resistance

$6.317– Intraday support

$6.710 – Objective target

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