Bitcoin analysis for October 31, 2018


Trading recommendations:

According to the H1 time - frame, I found a symmetrical triangle in creation, which is a sign of potential downward continuation. In the background I found strong supply and strong bearish momentum, it seems that symmetrical triangle is only a part of consolidation for the further downside continuation. Watch for selling opportunities. The downward target is set at the price of $6.173.


$6.260 – Intraday resistance

$6.220– Intraday support

$6.173 – Objective target

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 -