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Market Analysis Week 5 (Sep 30 – Oct 6, 2019)

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It was surprising that our BTC prediction of $ 7880 and $ 8555 occurred earlier than expected. BTC has lost more than 30% of its value during the last trading week, and its rising price position completely lost. What can we do to make a profit at this time? Let’s read our analysis below!

BTC

When W and M session has closed, the BTC has confirmed support level break $ 8555, so the first goal of BTC is testing resistance at $ 8555, predicted antennae could pull up $ 8620.

After confirming the $ 8555 resistance level, BTC will resume its previous momentum with the goal of $ 7110. At this level, the price will have a correction to confirm the resistance level of $ 7880.

With Bitcoin’s path like this, we suggest traders can enter short positions at $ 8560 – $ 8620.

And next is to open Long for Margin or Buy at $ 7110.

With the two orders above, you strictly remember the 5% price discipline for entry points.

ETH

Similar to Bitcoin, ETH also has a resistance level that needs to be confirmed before continuing the previous downtrend.

The resistance level that needs to be confirmed by ETH is $ 187; this is the significant resistance level of ETH so after confirming this level, ETH will have a long falling span with a large amplitude. However, in the immediate future, we will only give expectations for the drop at $ 145. Thus, with this judgment, you can open a short position at $ 187 and certainly comes with a 5% stop-loss. The next section of this article, we will continue to make predictions about the prices of other major coins. However, we encourage you to enter the order for ETH, BTC because these are the two coins that have safety and the coherent path to trading.

LTC 

The landmark that confirms the downtrend of LTC will be $ 61.

We should wait until LTC reaches $ 61 to enter the short order. It is better to try to buy to go up to $ 61 then sell.

And similar to other currencies, we will stop-loss 5% when entering the order against LTC.

NEO

NEO is the last coin we launched and also the first time we analysed this coin.

Similar to the above, we will confirm NEO’s upcoming downtrend and target of the downtrend.

In summary, we will have NEO and LTC are the two coins with the best trading amplitude, but to be safe, we should choose BTC and ETH.