BTCUSD Daily Forecast Oct 25 2018

Bitcoin: Consolidates With Downside Bias!

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. It isn’t pegged to the USD or to any other fiat currency, nor is it linked to a particular country or to an exchange. As with commodities of all types, supply and demand vary depending upon the time and the market, and the price of bitcoin fluctuates as a result. So, there is no global standard for the price of a single bitcoin. Finally: Different exchanges may have different levels of supply and demand, and the price may be somewhat different. Of course, if the price of one exchange is markedly lower than on another, that alone is likely to shift the supply and demand levels further…In general, If you wanna follow my analysis accurately, I use the MT5 platform from XM.COM