24 October 2018

Overview of the cryptocurrency market. October 24

BTC is at the support level and is trying to push off from it. Traders today give $6 456 for the main cryptocurrency. It's worth noting that support is also viewed by many traders as the Fibonacci level. As long as we keep close to this level, it's worth being more reasonable before opening a position. A sharp upward movement is possible to levels of $7 200 - $7 300. Achieving this goal will enable the digital market to resume short-term upward movement, but the likelihood of such an event is small. Downward movement can lower BTC to the bottom of the channel $8 300 - $6 200, which we talked before.

Moving averages show the need to purchase an asset. Trading indicators suggest that investors and traders are waiting for a sharp market movement. Momentum and Awesome Oscillator speak about the beginning of sales.

Our advice is to see the behavior of the digital market and, after a sharp rise or fall, make deals on stock exchanges. Attempts to make money in the side market are extremely difficult and risky for many investors.

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