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BTC/USD: technical analysis course, 10-11 November 2018

The attempts bitcoin bulls to regain control over the price of scriptactive above the pivot level of $6364 did not reach the goal. It is technically possible declines in the BTC/USD to the area prices of $6280.

The four-hour chart of BTC/USD

In this session the bulls failed to regain control of the price above the level of a trend reversal at $6364. At the time of the review of the market BTC/USD is trading at $6359 on a pullback from the pivot.

The pressure on the local uptrend of the pair has a moving average EMA30 with the current value at $6391,50.

10 ноября BTCUSD H4
10 November BTCUSD H4

There is a possibility of reduction of quotations to bitcoin trend line in the area of price of $6288. For this the bears need to overcome the price support at the local level $6330.

It is not excluded that till the end of day trading the sellers will dramatically increase the sales of bitcoin, and the strong downward momentum to reach the nearest goal.


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