The Bitcoin’s price broke through the descending resistance and tested one, so from now we can consider one as a support. Overall situation tells us that currently we are going to test $9500 again. However, we need to remember about the of $9280 – $9350, which was falsely broken many times before. It is quite possible that bears needed a closer support to break this resistance, now it exists.
We can open SHORT only after we breake $9150 level. And the option of placing buy orders in the range $8500 – $8800 is still actual, but it is not for day-traders. To be honest, the best option now is to just chill without any position, too risky to enter SHORT or LONG from current points.
Published at Sat, 02 Nov 2019 10:37:16 +0000