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Bitcoin analysis for October 01, 2018

analytics5bb1fb591d03c.png

Trading recommendations:

According to the H1 time - frame, I found that price is trading inside of the potential bearish flag, which is a sign that buying looks risky. In my opinion, the potential upward correction (abc flat) may end hear the price of $6,600. My advice is to watch for a potential breakout of the bearish flag to confirm further downward continuation. The downward targets are set at the price of $6,305 and at the price of $6,075.

Support/Resistance

$6.600 – Intraday resistance

$6.473– Intraday support

$6.305 – Objective target 1

$6.075 – Objective target 2

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