Author Topic: Bitcoin (BTC) Daily Price Forecast – November 1  (Read 307 times)

Offline BitcoinExchangeGuide

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Bitcoin (BTC) Daily Price Forecast – November 1
« on: November 01, 2018, 11:21:32 AM »
BTC/USD Medium-term Trend: Ranging

Resistance Levels: $6,800, $7,000, $7,200
Support levels: $6,200, $6,000, $5,800

Yesterday, October 31, the price of Bitcoin was in a sideways trend.  On October 29, the crypto’s price was broken by the bears after a long period of range bound movement above the $6,500 price level.  The price fell to the $6,300 price level and commenced another range bound movement.  Nevertheless, in the last three days, the price of Bitcoin was fluctuating above the $6,300 price level.

The BTC price is still under a bearish trend and price is expected at the $6,200 price level.  However, if the $6,200 price level is tested or broken, then a revisit to the critical support level is imminent.  Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.  The price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that price is in a bearish trend zone.


BTC/USD Short-term Trend: Ranging

On the 1-hour chart, the BTC price is in a sideways trend.  On October 31, the crypto’s price tested the $6,200 price level and rebounded to its range bound movement.  The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is falling. 

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.


The views and opinions expressed here do not reflect that of BitcoinExchangeGuide. com and do not constitute financial advice.  Always do your own research.

Source:  https://bitcoinexchangeguide. com

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Bitcoin (BTC) Daily Price Forecast – November 1
« on: November 01, 2018, 11:21:32 AM »

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