BTCUSD Daily Forecast Oct 26 2018


Bitcoin: Outlook Remains Lower Despite Hesitation…

As long as 6500 resistance holds on a daily closing basis, the BTCUSD remains on the downside to 6138 level ahead of 6036 level where a cut will aim 5830 level, a halt is likely, and it may test 6036/6138 levels before another fall, anyway; below 5830 will target 5580 level, further down, support comes at the 5300 level.

On the upside, immediate resistance is seen at the 6500 levels, a daily closing above that level will turn outlook neutral for testing 6686 level before another fall, above 6686 will extend the corrective recovery to 6913/7012 levels, further upside, resistance comes at 7327 level.

Conclusion: The BTCUSD still sees downside threats below 6500 level, above 6500 sees recovery threats to 6686 level before another fall…

Support: 6138, 6036, 5830, 5580

Resistance: 6500, 6686, 7012, 7327

Very Important….please read this!!

There is no standard or global bitcoin price at any given period of time. Bitcoin prices vary from one exchange to another, different exchanges may have different levels of supply and demand, which means different/inaccurate analysis, so…If you wanna follow my analysis accurately, I use the MT5 platform from XM.COM

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