Daily Analysis October 10
Midline: Bullish
Short term: bearish
As I updated yesterday, BTC has started to show a lot of bearish pressure on the lower time frames, which has pushed it towards the $27,550 it is currently trading at. Bulls would still need to see a breakout and close above $28,000 to confirm the mid-term move is in their favor, but that is increasingly unlikely at the moment. Depending on price action, a pullback to $26,300 or a drop to $24,600 is possible over the next 1-2 weeks, but I would expect a strong upward move.
daily forecast range
26500-29500
Midline: Bullish
Short term: bearish
As I updated yesterday, BTC has started to show a lot of bearish pressure on the lower time frames, which has pushed it towards the $27,550 it is currently trading at. Bulls would still need to see a breakout and close above $28,000 to confirm the mid-term move is in their favor, but that is increasingly unlikely at the moment. Depending on price action, a pullback to $26,300 or a drop to $24,600 is possible over the next 1-2 weeks, but I would expect a strong upward move.
daily forecast range
26500-29500