Bitcoin price achieves bearish correction – Analysis - 31-10-2019

Bitcoin price face a negative pressure yesterday to settle below 9200.00, which pushes the price to make a bearish correction on the intraday basis, and the way is open for visiting 50% Fibonacci level that is located at 8880.00.

Therefore, the bearish bias will be preferred for today, pointing that surpassing the mentioned level will extend the bearish wave to reach 8510.00, while breaching 9255.00 represents a positive factor that will stop the expected decline and pushes the price to rise again.

The expected trading range for today is between 8700.00 support and 9500.00 resistance

The expected trend for today: Bearish