FX.co - BTC analysis for October 05,.2020 -Contraction on the BTC. Watch for the4 breakout to confirm further direction

2020-10-05T11:24:41

Relevance until2020-10-10

Further Development

BTC analysis for October 05,.2020 -Contraction on the BTC. Watch for the4 breakout to confirm further direction

Analyzing the current trading chart of BTC, I found that there is still big consolidation and flat regime between the price at $11,100 and $9,833.

My advice is to watch for the breakout of the contraction to confirm further direction.

The upside breakout might confirm test of $12,000

The downside breakout might confirm test of $9,000

Key Levels:

Resistance: $11,100

Support level: $9,833

*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 05,.2020 -Contraction on the BTC. Watch for the4 breakout to confirm further direction