BTCUSD Daily Forecast Oct 05 2018

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BTCDUSD: Continues To Consolidate!

As long as 6322 support holds on a daily closing basis, the BTCUSD remains on the upside to the 6740 levels ahead of the 6950 levels, a halt is likely, but a break would open 7170 levels, further upside, resistance comes at the 7430 levels.

On the downside, support comes at the 6322 levels, a daily closing below that level should weaken recent rise and reverse risk to the downside to the 6028 levels where a cut will aim the 5545 levels.

Conclusion: The BTCUSD sees upside threats above the 6322 levels with caution…

Support: 6322, 6028, 5545

Resistance: 6740, 6950, 7170

Notes:

1- A daily closing above 6950 will bring a strong bullish momentum.

2- A daily closing below the 6322 levels will activate the bearish divergence and suggest a lower leg below 6067 levels.

3- Minor support comes at the 6492 levels, broken resistance turned support!

4- The BTCUSD is likely to consolidate within 6322/6740 range before attempts to break higher…

 

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