Rejection of upward momentum at strong resistance 114.2 and beginning of bearish trend
Profit taking levels based on previous resistance:
Low-risk, scalping play - 112.88
High-risk, high reward play - 11.94
Stop-loss: Set at personal risk appetite
TA:
Strong resistance level of 95.65 was tested on 5 Oct and held, turning into a strong support
FA:
- Weakness in Euro due to poor economic data and uncertainty in Italy's fiscal budget
- Weakness in Chinese Yuan, as the drop in required reserve ratio did little to stem equities outflow, leading to largest drop in Shanghai Composite since early...
Bitcoin has traded between $6k and $6.8k (78.6% fib level) since early September, signifying a period of historically low volatility. However, this trend is unlikely to continue throughout Q4 2018.
Sentiment has turned strongly bearish. Many crypto traders expect the strong psychological support at $6k to be broken. Given the entry of institutional-grade...
