Bitcoin Under High Pressure – October Price Analysis

Bitcoin Under High Pressure - October Price Analysis



hey how's it going this is scrambled from emotionless crypto trading and today we're going to discuss about bitcoins price market analysis and find out a couple of things about the language of the market which is going to be very useful in your next movements now before we get started let's take a look at the market cap 147 billion currently kind of selling around 2.5 billion a volume in the last 24 hours which is pretty small comparing on what we had in the last days just look at the volatility we had in this graphs over here that was pretty much insane or a volume in the last days was around 5 billion a day which is kind of more than double than we are right now therefore the market is preparing for something now let's take a look at what's happening right now in the Bitcoin compared to the federal USD for hours candlesticks for polo reacts exchange trading video commies the website I'm running this market analysis so there you go guys this is our current situation our price point is sitting at four thousand three hundred thirty three dollars for one Bitcoin compared to feather USD now we're pretty close to the resistance zone right over here as you can see we're pretty close to the resistance zone which actually confirmed two times right over here once again right over here another two times and not of two times as well as one more time over there so it has a couple of confirmations it's definitely a strong resistance zone and we're facing troubles surpassing death as of course we do have some more possibilities in the next days next weeks and months to overcome this zone which is not going to be a problem for us but for now it seems to be confirming and pushing the market down the way as it seems like now on the other side we got a couple of great things that started to to look like a nice higher high situation over here with a nice up trending channel basically that we're in T now I'm afraid that this up trending channel can be shut down by this powerful resistance zone if so what happens is would you have this possibility to move within this zone without too much struggle now once we approached the previous resistance which can be our next support for continuous growth which is this blue line over here this blue line represents 4112 bucks this was our previous resistance right over here which can very easily transform me to our next support basically at this time right at that time or anywhere very soon it could transform into that we have to see how the market is going to react around those prices because if it breaks down down the way it actually breaks out down the way then obviously we're going to face problems because our next support is pretty much located at 3499 as well we could consider this line over here which I'm going to share with you right now that line over here which could basically create a support zone because the price range is pretty small and definitely those two points are having a large meaning within the market just look at us we also had support at this time we also had support at this time which was pretty major it was allowing us to push the market up from our four thousand four hundred seventy eight bucks coming down the way to three thousand six hundred but after this major support we were having over here were able to go as high as all-time high and that's a considerable price point that we have over here which needs to be considered continuously from now so as our situation we've got a couple of choices we got a couple of scenarios which we have to pay close attention on this resistance zone right over here if it's still confirming then obviously the market is going to become bearish again that's the real true that's what's going to happen if the resistance zone which is this one right here is still going to confirm on the other side we do have a possibility and a percentage of the case that could happen if a breakout goes on riding for breakout upwards basically which could be even this way right it could be even that way it could be this way it could be in many other scenarios as currently this is the place where we will have movements without too much data this is not really going to give us data this space basically for the market to move right now tail we're going to have some meaningful data which represents a breakout upwards or downwards between those two lines talking about the line which was previous resistance what it's going to become our next support as well as the above resistance zone basically so we need a breakout in order to have realistic data which is going to either continue the uptrend or move the entire space into a bearish market once again so we're going to see what's gonna want to happen with that now even if we break out upwards would you have basically some other struggles on the way such as the 4000 $685 line right over here as well as the all-time high resistance line which was quite powerful considering the major drop we had afterwards just look at this from here or coming down there way till over here so everything has been triggered from this price down the way of course which is four thousand nine hundred five fifty five dollars I'm sorry which still applies and it's going to have a major impact once we break out that one we're going easily for five thousand five hundred poles to six thousand dollars in bitcoins price now till we're reaching over there we've got terraces I've got the resistance on right over here then we've got a resistance line and if we break out of the resistance line basically then we have large possibilities to have movement within this zone till we break out of the Altamaha resistance line that's something to consider in a bullish market and that happens if we succeed breaking out of this resistance zone on the other scenario which you have to have a high tension is the 4,100 bucks right there if we're confirming then you can buy you can entry if we're continuing positively you can entry if we're not you definitely want to sell out your position and buy back lay around just wait for the better better of market and price analysis which could appear right over here right over there in that zone basically you can find another entry of course if the market is going to push us down the way that's something to consider and one of the things that you have to do for now is be patient and see how the market is going to react within this zone right over here as I told you this is a rectangle which applies basically and it's going to have a specific important movement till that we need more data we just have to wait be patient to see when that breakout is going to happen therefore we know if we have to re-entry rebind or sell out one of those things that needs to be done on the other side if we break out above then obviously we have the transition basically to buy right away after breakout to continue right and get up right probably you're going going to right until this point then we're going to have a slight pullback but we will force once again the breakout if it's not gonna happen forty-four thousand six hundred eighty five dollars resistance like you always have the possibility to sell out at this important lights that's what you have to consider it's not a problem selling out buying back a few hours later if it comes Imps or if the market changed next we have to understand and these things are normal it's not like I'm buying in and they're not gonna do any movement for months that's the way I'm not really suggesting to do this business because you have to be treaty actively in order to be able to take the most you know efficient out of the market let's the weight training goes on and you have to buy or sell if it does maybe a couple of times a day and that's not a problem especially if you're working with multiple coins then that's what you want to do so pay attention on this price sex on this price points which needs to give us a lot more data it will be very important what's gonna happen from now hopefully this is not going to be the last higher high we have created but as it seems like right now we still need more data I know already said that a couple of times but that's what you have to understand and that's what we have to look after over the next stage guys so that's pretty much all about it feel free to engage with in this video presentation comments area likes dislikes shares whatever you prefer I really enjoy any sort of feedback from you guys thank you so much for watching if you would like to become my one-on-one student of my private coaching program where I'm teaching people how to become professional traders and real learning from A to Z feel free to check the first link in the description area thank you so much once again talk to you soon

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About the Author: Maximilian Kuhn

19 Comments

  1. In the following video we have market analysis for Bitcoin and not a prediction , use the content as helping stone on your next decisions and always do your research. Feel free to subscribe and check for the resources in description. Thank you.

  2. Here's a thought, whales manipulate the price up so all alt coins follow, TP at designated high,crash the market ,
    buy heaps of btc low price,wait for fork ,get free BTG buy, altos like neo low ,dump either BTC or BTG wait for panic then double up on their portfolio ?

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  4. Great video as always…one question, you mentioned that these 2 support zones 4100$ and 3500$ should be confirmed before any entry. May I ask what you would consider as confirmation?

  5. Hi Paul, thanks for this excellent video.

    Mate I want to buy BTC, is this a good moment to do so when the price is around $4400/BTC or do you think that this price will drop somewhere in October due to the upcoming Hardfork? any advice?

    Many Thanks!

  6. Thank you but what to buy? ETH is struggling, NEO isn't crashing yet, WTC is too high, maybe ADX but not sure… there's also ADA but it came out yesterday!

  7. everyone what should i do – I INVESTED 10k USD into ethereum where my average coin is 350 – I have been at a loss for a month now ! how much longer? should i cut my losses and sell – ethereum is not performing well 🙁 🙁

  8. JP M is in panic :)) stoping the QE unlimited usd printing scum is not the option :)))

    Good job bro keep toking I love it:))

  9. I am going long for this week! just cause of the korean trading shutdown nationwide! hope some new money pours in into crypto! lol hers to hoping!

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