Bitcoin Daily – Correction Down Is Likely – October 11, 2017

Bitcoin found the resistance near the previously made high at $4935. Currently, this level is being rejected, suggesting that a corrective wave down could follow.

While BTC is forming a double top, investors could start fixing profit that could trigger a drop in price. The previously formed support is located around $4100 where Bitcoin could correct.

Unless BTC/USD will have a clear break above the current resistance, a probability for the corrective move down remains high.

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