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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Bitcoin analysis for October 17, 2018

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Trading recommendations:

According to the H4 time - frame, I found that Bitcoin is still in the short-term balance and that my last analysis is still active. The high of the balance is set at the price of $6.710 and the low of the balance is set at the price of $6.163. Most recently, I have found successful rejection of the support at $6.313, which is a sign that selling looks risky. My advice is to watch for buying opportunities. The upward take profit level is set at the price of $6.710.

Support/Resistance

$6.454 – Intraday resistance

$6.313– Intraday support

$6.710 – Objective target

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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 - www.instaforex.com