empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

15.10.201915:34 Forex Analysis & Reviews: BTC 10.15.2019 - Watch for breakout of the HSS pattern to confirm further downside

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.

BTC has been trading sideways at the price of 8.300. I still expect more downside movement and potential test of 8.072 and 7.7750.

Exchange Rates 15.10.2019 analysis

Red rectangle – Resistance

Greene rectangle – Support levels

Purple falling line – Expected path

Bitcoin is still trading in the trading range regime and consolidation mode. Anyhow, there are patterns that suggest more downside. Most recently, I found the potential head and shoulders pattern in creation, which might lead BTC downside. The breakout of 8.200 will confirm eventual test of 8.072 and 7.750.

Major resistance is seen at 8.800.

Petar Jacimovic
Analytical expert of InstaForex
© 2007-2024

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.

Turn "Do Not Track" off