FX.co - BTC analysis for October 02,.2020 - Market in contraction, watch for the breakout to confirm further direction

2020-10-02T12:43:59

Relevance until2020-10-04

Further Development

BTC analysis for October 02,.2020 - Market in contraction, watch for the breakout to confirm further direction

Analyzing the current trading chart of Bitcoin, I found that there is still sideways regime and contraction watching the daily time-frame.

My advice is to watch for the breakout of the support or resistance to confirm furher direction.

The breakout of support at $10,150, might confirm downside movement towards $9015

The upside breakout of the resistance at $11,100 might confirm the bullish movement towards $12,000

Key Levels:

Resistance: $11,100

Support level: $10,150

*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 02,.2020 - Market in contraction, watch for the breakout to confirm further direction