You are about to be redirected to
www.instaforex.com
The services on this website better suit your location
 
 
Open Account

16.10.202013:54 BTC analysis for October 16,.2020 -Contraction on the BTC. Watch for the breakout the 4 day balance to confirm further direction

Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Further Development

Exchange Rates 16.10.2020 analysis

Analyzing the current trading chart of BTC, I found that there is consolidation process and that waiting for the breakout would be best advice.

The breakout of resistance at $11,700 can confirm test of $12,000 and $12,460

The breakout of support at $11,180 can confirm downside movement and potential test of $10,530 and $10,230.

Watch for the breakout to confirm further direction

Key Levels:

Resistance: $11,700

Support level: $11,180

Performed by Petar Jacimovic
Analytical expert of InstaForex
© 2007-2020

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.