Quick Analysis of the Current BTC Market [Oct 24,19]

Quick Analysis of the Current BTC Market [Oct 24,19]

Today we wanna show you our view of BTC/USD and situation on the market.
We move inside the falling wedge , we just reached the price of $7280 and it is a good support and at this point several indicators intersect:

  1. 61.8% fibonacci level;
  2. Falling wedge support line;
  3. Diagonal support line formed by 4 points.

I think we will continue to move inside this wedge and even a possible false break up this wedge .
Soon we will talk about the New Year rally, which is likely to be in the black triangle in the range $6800-8400.
Now you can observe the intersection of the two main MA 200 and 50 - and this is called death cross - a signal for falling.