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Cryptocurrency Update OCT 17-2019

BTC finally broken through the $8,000 level which will now likely open the door for a test of the lows.
We’ve been writing about this move all week long after price failed to push through the $8,500-600 resistance level.
Now we will be waiting on that test of $7,800. That is a strong support level to date as it has held three times already.

So that will likely be the trade to watch going forward. A break of that mark will lead to another leg lower into $7,000, while a hold could see price rally all the way back to the top of this current range. $7,800 is really the key to the price action at the moment.

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