Bitcoin analysis for October 04, 2018


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.


$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.

The material has been provided by InstaForex Company -