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08.11.201811:48 Forex Analysis & Reviews: Bitcoin analysis for November 08, 2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 08.11.2018 analysis

Trading recommendations:

According to the H1 time - frame, I found that BTC reached my yesterday's target at the price of $6.400. Anyway, I found the 7-hour balance between the price of $6.427 (resistance) and the price of $6.400 (support), which is a sign of indecision. I also found that the level of $6.400 is also a potential end of the downward correction (abc flat), which is a sign that selling looks risky. My advice is to watch for buying opportunities if you see a breakout of the $6.427 (resistance). The upward target will be set at the price of $6.506. Anway, if you see a breakout of the support at ($6.400), this will open the room for the level of $6.335.

Support/Resistance

$6.427 – Intraday resistance

$6.400– Intraday support

$6.506 – Objective target

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Petar Jacimovic
Analytical expert of InstaForex
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