Bitcoin Forecast October 9, 2018
Bitcoin markets rallied slightly during the trading session on Monday as traders came back from the weekend, but quite frankly the analysis has stayed the same for months now, we simply find sellers near the downtrend line and find buyers close to the $6000 level. If we break above the downtrend line, the market then goes to the $7250 level, perhaps followed by the $8250 level next. Alternately, we could drift lower from here and the way that the daily candle closed, it does suggest that we may get sellers coming back in. At this point, I would anticipate a move back towards the $6000 handle, but I’m not expecting a major break down. Quite frankly, at this point I’m starting to wonder whether or not we are going to get any move.
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