Bitcoin Trend / 04-10-2017

 Expected trading for today is between 4200.00  support and 4600.00 resistance.  

Bitcoin price tested 4400.00 level and fall down but kept its
stability above 4236.00 level..

So What Next..

The trend for today is Bullish..
Why Move higher is more likely to happen than a breakdown !?

Because:

• Stochastic moved up to the oversold areas and this support
  bullish trend..

• RSI, on the other hand, is heading north so bitcoin price might
  follow suit..

• 100 SMA is above the longer-term 200 SMA and this support
  bullish trend..

• Bitcoin price has plenty of factors on its side, one of which is persistent geopolitical risks..

Note:

• Breaching 4400.00 level and holding above it, will open the way
  to test 4475.00..

• Breaching 4475.00 level and holding above it, will open the way
  to test 4980.00 ..

• Clear downside break and hold below 4236.00 level, might move the price to test 3776.00 level again before any new attempt to rise...

Expected trading
for today is between 4200.00 support and 4600.00 resistance.
Expected trend for today: Bullish.

Source

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