FX.co ★ BTC 10.29.2019 -Potential gap fill on the Bitcoin

BTC is still trading inside of the consolidation zone at $9.329. I see potential chance for the gap fill and test of $8.757. As long as the swing high at 9.934 is holding, there is the chance for the downside.

Yellow rectangle – Resistance level

Falling purple line – Expected path

Horizontal line – Support level

Based on the 4H time-frame, there is potential for the gap fill and test of $8.757. The middle Bollinger line is now set at $8.645 and eventually the price will try to reach that line.

MACD is showing decreasing on the upside but still above the zero reading. My advice is to watch for potential selling opportunities on the rallies as long as the BTC is holding swing high at $9.934.