BTCUSD Daily Forecast Oct 12 2018


    BTCUSD: Bearish, Eyes The 5827 Levels!

    The BTCUSD maintained a bearish momentum yesterday, topped at the 6500 levels and bottomed at the 6029 levels. The development leaves the pair targeting the 5827 levels, a halt is likely, it may test 6029 before attempts another fall below 5827 levels, however; a cut through 5827 will aim the 5578 levels, further downs, support stands at the 5300 levels.

    On the upside, immediate resistance is seen at the 6500 levels, a daily closing above that level will turn outlook neutral for testing 6758/6947 levels, it may turn lower from here, but if this fails to happen, the pair will extend the corrective recovery to 7355 levels.

    Conclusion: The BTCUSD sees downside threats below 6500 levels …

    Support: 6026, 5827, 5578, 5300, 4848

    Resistance: 6308, 6500, 6758, 6947, 7355