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10.10.201915:24 Forex Analysis & Reviews: BTC 10.10.2019 - Sell zone for Bitcoin, important resistance held

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.

Bitcoin has been trading sideways at the price of $8,470 in recent 24-hours. Strong resistance at the price of $8,700 held successfully, which is sign that sellers are still present.

Exchange Rates 10.10.2019 analysis

Red rectangle – Resistance zone

Green rectangles – Support levels

Falling purple line – Expected path

Watch for selling opportunities on the BTC due to rejection of the resistance and broken previous swing low at $8,500. Support levels are set at the price of $8,319, $8,139 and $7,800,

Petar Jacimovic
Analytical expert of InstaForex
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