Bitcoin / US Dollar | BTCUSD Trading Charts | 10/8/18

in #crypto-news • 6 years ago

BTC is still going sidelines as it tries to break in the mini-resistance at $6,666, which is immediately followed by another mini-resistance at $6,700. Even if it breaks both marks, it will immediately enter the red kumo (Ichimoku Cloud) while trying to break the psychological resistance of $7,000. 

Bitcoin last hit the 7K mark last September 1, 2018.

If BTC fails and continue to fall, support is immediately seen at $6,400 - $6,500 with a final strong support at $6,200. If BTC breaches the $6,200 mark, we might revisit the $5,800 and $5,500 mark. We last visited the $5.8K mark in June 2018. 

RSI is still neither overbought or oversold so there's no clear trend at this point other than sideways.

The numbers:

  • Immediate Resistances: $6,600 - $6,700
  • Immediate Supports: $6,400 - $6,500

Tradingview Indicators

Caveat:

  • Do your own research
  • Charts, especially those of the cryptomarkets are so volatile a simple news can change the flow of the trend.
#bitcoin #ichimoku-cloud #btc #btcusd
6 years ago in #crypto-news by
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