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#Post#: 456--------------------------------------------------
BTC/USD, 1D
By: coinchase Date: October 11, 2019, 4:05 am
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BTC/USD, 1D, update TA
HTML https://bit.ly/2qoxVcN
2019-10-10
▪️ Keeping in mind that the vertical gray line
marks the last commentary on the BTC/USD pair, we can't say that
the price has moved too much from where we left it. But has it?
Let's break the structure to study it.
▪️ The first important thing that bulls were able
to maintain is the last low from $7800 - right where the short
orange horizontal line starts. Once Bitcoin came back to these
levels in the weekend, price meant to form a small trap for late
sellers. After its brief consolidation, BTC enjoyed a 9.55%
rally to the upside, gaining traction back above its last Lower
High at $8530. The other orange horizontal (dotted this time)
was placed there for a better observation. If Bitcoin forms
another trap - maybe for buyers - we are going to find that out
pretty soon.
▪️ One thing is for sure: Bitcoin's current range
is between the thick red horizontal lines (roughly $7600 -
$9100). So moves above its last high are possible, but we
currently think that price is going lower once this
consolidation is over.
[img width=400 height=196]
HTML https://i.imgur.com/WMb8Wvq.png[/img]
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#Post#: 472--------------------------------------------------
Re: BTC/USD, 1D
By: coinchase Date: October 25, 2019, 1:10 am
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◾️ #BTCUSD, 1D, update
▪️ BTC/USD's last update has been given on the 10th
of October. 15 days ago. At that time we were speculating that
once the consolidation in that range is over - Bitcoin is going
to spill to the downside. It happened so. Lower levels of
support have been tested - $7620 and $7350 - but sellers
obtained Daily candles closes under those levels. That's not a
good sign.
▪️ There's a probability that Bitcoin could spend a
little more time in this lower range, but once the price is
ready to make its next move - we think that one is going to be
DOWN as well. Even more so if the thick red horizontal is tested
as resistance - $7620.
[img width=400 height=196]
HTML https://i.imgur.com/doMcaFr.png[/img]
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