BTC scenario for end of October
BTC has been rising rather quickly in the first half of October. As we are running in to multiple resistance lines, I would consider taking profits before a pullback to 54700, 54150 and 53800. For the close of this month, I'm still expecting a strong rebound in the last week, closing above 63000 would slingshot the price action in to November.
Note
To support the idea of a temporary pullback: Both RSI and MACD are showing a bearish divergence on 4H, 8H and 12H timeframes. This could be reset by grabbing liquidity at lower price levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.