Good evening, dear readers!
Tomorrow is the last day of October, and that means going flat nearly 2 months, that’s too long for bitcoins.
So, what is happening in the market: after yesterday’s dump of $6 500 to $6 318, and with good by today’s standards, the volumes (now 180 points is considered a major move), drop stopped at the support line C. For buyers is now the important level that must by all means keep.
In the event of breakdown go to test extreme local minimum at $6 120. While the price remains within the channel AB is over $6 280, it is possible not to worry.
Support levels: 6320, 6280, 6210, 6120
Resistance: 6390, 6460, 6510
To short now is dangerous to them/stay with them I see the best scenario is the distribution of purchases by levels of support, and already to start to slowly pick up the cue ball.
The same opinion is shared by many popular analysts:
And two https://bitnovosti.com/2018/10/25/mnenie-nizkaya-volatilnost-bitkojna-ukazyvaet-na-priblizhenie-bychego-ralli/
This applies not only to bitcoin, but the market as a whole: many of the coins from the top fell in price several times or more (for example, ETC, NEO, ZEC, ETH, OMG, ADA) – it’s time for them to look closely, because when market reversal and the beginning of a new bullish rally, they will give a big profit.