Bitcoin (BTC) Daily Price Forecast – October 16

2018-10-16 10:36

BTC/USD Medium-term Trend: Ranging

Resistance Levels: $6,800, $7,000, $7,200
Support levels: $6,500, $6,300, $6,100

Yesterday, October 15, the price of Bitcoin had a price rally where Bitcoin reached the high of $7,695.82 but pulled back to the low of $6,825.78. The crypto's price was repelled at the resistance of $7400. Bitcoin price had been struggling over a month to break that level in order to resume its uptrend.

Price is back to its previous level fluctuating above and below the $6,600 price level. Today, the digital currency is expected to rise as  price is in the bullish trend zone. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The price of Bitcoin is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.

BTC/USD Short-term Trend: Ranging

On the 1-hour chart, the BTC price is in a sideways trend. The crypto's price is fluctuating horizontally at the price of $6600 . Meanwhile, the price of Bitcoin is above the 12-day EMA and the 26-day EMA which indicates that price is rising.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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price bitcoin levels btc resistance had october

Источник: bitcoinexchangeguide.com

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