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:
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.