BITCOIN Analysis for October 31, 2018

Bitcoin is still quite bearish, trading below $6,500. BTC has come under impulsive pressure recently. The dynamic levels such as 20 EMA, Tenkan, and Kijun lines are working as resistance currently. However, on the back of indecision, a daily candle indicates the correction in the market while being pushed lower consistently. Though the price is heading lower, the bullish bias can be still observed in the market. As the price remains above $6,000 area with a daily close, it is expected to continue further. Currently the price may push a bit lower in the process but with lower pressure. It signals that certain bullish counter may be imminent.

SUPPORT: 6,000

RESISTANCE: 6,500, 7,500

BIAS: BULLISH

MOMENTUM: VOLATILE

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