FX.co ★ BTC analysis for 01.10.2020 - Evening start patterrrn on the daily time-frarme, watch for selling oppotuntiies

Industry news:

Thailand's Siam Commercial Bank (SCB) recently partnered with RippleNet to create 'SCB Easy', a mobile application that facilitates instant, low-cost cross-border payment solutions, according to a blog post. With this, the 112-year-old bank became Thailand's first domestic bank that is willing to push forward with Fintech partnerships.

Technical analysis:

BTC is still trading inside of the downside channel and there is potential fo the further downside movement. I would like to see the breakout of the $7.690 to confirm further downward movement and potential test of $6.510 and $5.824.

MACD reading is positive above the zero and slow line is slopping to the upside.

As long as the BTC is trading above the $8.500 there is potential for more downside.

Support levels are seen at the price of $6.507 and $5.824

Key resistance is set at the price of $8.500