Bitcoin Price Analysis – 21/10/2019

Bitcoin price started October from the sharp increase approximately to $8500 level. However, then followed 6-days downwards range that ended on the 6th of October at the level of $7800 approximately. Then the price was growing with some fluctuations and crossed $8600 level on the 10th of October. The price failed to breakout the resistance and started to fluctuate and decrease again. After a week the price again rebounded from the $7800 support and experienced a growth. Now it moves around $8200 level.

Bullish scenario: The $8700 level is still the basic target of buyers. On a global scale, bulls are interested in the $9800-$10400 zone.
Bearish scenario:  Bears are interested to test the $7800 level and in case of this scenario the area of $7000-$6500.
Neutral scenario: Further fluctuations near the control price of the $7800-$8700 area are expected.