The rate of bitcoin has dropped to $6,500. Market analysis for October 17

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Bitria “news” the bitcoin exchange Rate dropped to $6,500. Market analysis for October 17

For the past day capitalization cryptocurrency market has remained in the range of $211, and the bitcoin exchange rate rose 0.3% and the cost is $6,580. The rest of the cryptocurrency market also captures the increase in value to 5%. Best performance for last 24 hours in cryptocurrency XRP – 5.1%, and the cost reached $0.46.

BTC/USD rose 1.5% above its intraday low of approximately $6,346, however, the volume has slowed, in contrast to the wild swings on Monday that indicates that serious traders waited for something to come back to normal life. The result of Tuesday’s trading session bitcoin on exchanges has remained relatively calm.

Intraday support for today stood at $6,415, given $6,500 as already proven psychological resistance. A breakthrough in the case in which BTC/USD will overcome intermediate resistance level we open a long position in the direction of $6,550 in the case of smaller volume. If trading volume is higher during the breakdown, then the range of $6,600 – $6,617 may present a potential target.

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