BTCUSD Daily Forecast Oct 31 2018

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Bitcoin: Bearish, Eyes On 5822 Level…

As long as 6385 resistance holds on a daily closing basis, the BTCUSD remains on the downside to 6029 level, below 6029 aims 5822 level. A halt is likely, it may test 6029 before a lower leg below 5822, anyway; losing the key support 5825 would open 5580, further down, support comes at 5300 level.

On the upside, resistance comes at 6255 level ahead of 6385, above 6385 sees recovery threats to 6500/6947 levels before another fall.

Conclusion: The BTCUSD continues to face downside threats below 6385 level.

Support: 6175, 6029, 5825, 5580

Resistance: 6255, 6385, 6500, 6758

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