FX.co - BTC analysis for October 07,.2020 -Contraction on the BTC. Watch for the breakout to confirm further direction

2020-10-07T11:36:45

Relevance until2020-10-09

Further Development

BTC analysis for October 07,.2020 -Contraction on the BTC. Watch for the breakout to confirm further direction

Analyzing the current trading chart of BTC, I found that my idea from yesterday is still active.

I see well developed symmetrical triangle and my advice is to watch for the breakout to confirm further direction...

The upside breakout of resistance at the price of $10,800 might confirm test of $11,090 and $12,000

The downside breakout of support at the price of $10,370 might confirm further downside movement towards $9,815 and $8,975

Key Levels:

Resistance: $10,800

Support level: $10,370

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC analysis for October 07,.2020 -Contraction on the BTC. Watch for the breakout to confirm further direction