Bitcoin report for 11th October.
Bitcoin has very important resistance at 6600/6650 & we topped exactly here. This market is ready to move & holding here should trigger significant selling pressure this week to target 6500/6450 then 6325. On further losses look for 6250. Below 6200 look for 6100, 6000, 5900/5880 & the low for this year at 5780. A break above 6650 allows a recovery to resistance at 6750/6800 & this could still halt the rally, proving to be a false break higher, to shake out the weak shorts; stops above 6950. A break higher however targets an excellent selling opportunity at 7200/7250. Try shorts with stops above 7350.
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