BTCUSD Daily Forecast Oct 15 2018

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Bitcoin: Bearish Despite Recovery Attempts!

As long as 6500 resistance holds on a daily closing basis, the BTCUSD remains on the downside to 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