Bitcoin analysis for October 16, 2018
According to the H4 time – frame, I found that Bitcoin is in short-term balance. 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 that 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.
$6.454 – Intraday resistance
$6.313– Intraday support
$6.710 – Objective target
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