Market analysis of 01 October 2019 by 4C Trading

Contents

Bitcoin

The BTC has closed up and has been around 8400$. The Weekly Open is taking on the role of support for the time being.

The technical situation daily is rather negative, the MACD is declining, the WaveTrends is bearish but is showing signs of recovery and the IAC is on the rise.
Over a time horizon of 4 hours, the technical situation is rather positive, however. The indicators are up except for the IAC which shows signs of curvature to the drop.

What to do ?

We suggest you wait for confirmation of the role that will take the Monthly Open. The scenario where the BTC would retest the Weekly is not to be excluded either.

The media of the day are 8000$ – 7700$
The resistances for the day are to$ 9000 – 9600$

Cryptocurrency Market