Technical analysis of Bitcoin course BTC / USD 30.10.2018

Good evening, dear readers!

Tomorrow will be the last day of October, and this means that the going flat has been going on for almost 2 months, which is quite a long time for Bitcoin.

So, what is happening in the market now: after yesterday’s dump from $ 6,500 to $ 6,318, and with good volumes by today's standards (now 180 points is already considered a serious movement), the decline has stopped at support line C. For buyers, this is now an important level, which it is necessary to withhold everything.

In the event of a breakdown, we will go to test the extreme local minimum for $ 6,120. As long as the price remains in the AB channel above $ 6,280, you cannot worry too much.

Support Levels: 6320, 6280, 6210, 6120

Resistance: 6390, 6460, 6510

Shorting now is dangerous, for the long-term / medium term, I see the most optimal scenario for the distribution of purchases by support levels, and already beginning to slowly pick up Bitcoin.

Many popular analysts hold the same opinion:

  1. https://bitnovosti.com/2018/10/30/topovyj-avtor-tradingview-gotovtes-k-razvorotu-tsenovogo-trenda/
  2. https://bitnovosti.com/2018/10/25/mnenie-nizkaya-volatilnost-bitkojna-ukazyvaet-na-priblizhenie-bychego-ralli/

This applies not only to Bitcoin, but also to the entire market: many coins from the top have fallen in price several or more times (for example, ETC, NEO, ZEC, ETH, OMG, ADA) - it's time to look at them, because market reversal and the beginning of a new bull rally, they will give greater profits.

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