BTC 10.31.2019 – Broken falling wednge and new momentum up on MACD, watch for buyhing opportunities

BTC did break the falling wedge in the background and confirmed more upside. There is potential for the test of $9.500 and even re-test of the $9.900. Watch for buying opportunities on the dips.

Yellow rectangles – Resistance levels and upward objectives

Falling purple lines – Broken falling wedge pattern

Rising purple line – Expected path

MACD is showing new momentum up and potential for more upside in the next period. Resistance levels to watch and potential upward targets are set at $9.430 and $9.500. Anyway, if the BTC start going downside and break the support at $9.200, there is chance for more downside towards the level of $8.950.

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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