Crypto Screener Forums Bitcoin (BTC) Forecast – Technical Analysis Bitcoin (BTC) Technical Analysis – October 2017 Reply To: Bitcoin (BTC) Technical Analysis – October 2017

#782
AndreSnyman
AndreSnyman
Participant

The channel on the daily chart has not broken, btc has given us bearish signals on this chart. Have a look at the hour chart. The day chart is bearish currently with a target of 4980. The big question is where will the money flow go to after the fork! Technically we need to look at the hour chart for a better picture,

The hour chart is showing the picture better at the moment. Resistance is at 5950, I do not think btc will get there…. but let’s wait for the charts to show us. I have seen that what you think does not have any effect on the markets….lol.  If 5600 breaks expect btc to test the lower trend line on the chart at +-5390. This will also be the actual trend line to break for the bear to continue. I have moved a lot of btc to alt coins today.

Very important levels is : 5960 and 5600. Between these levels I am neutral to bearish and will be watching these levels! Let the chart show us the direction.  Expect btc to be volatile today.