Analysis – Bitcoin – 9th of October

Bitcoin has been bullish for the past 3 days and is currently in a FREE path towards its next resistance level, which is 4715.

If it breaks this level, it will move further up to test 4950 resistance level, and the psychological resistance of 5000.

We can expect some heavy sell-off at 5000 level for some time, but remember, you can also close your profitable positions at 4715 to be on the safe side.

As for the support, we have one support at 4150 and the other at 4080. Although they are hard to break, but a sustainable move below 4080 can take Bitcoin down to 3793.