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FX.co ★ Trading recommendations for Bitcoin, October 9, 2017

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Crypto Analysis:::2017-10-09T07:41:31

Trading recommendations for Bitcoin, October 9, 2017

Extremely ambiguous data on the US labor market somewhat embarrassed the market. Despite the decline in the unemployment rate, the proportion of able-bodied people in the total population increased and the number of jobs for the previous month did not increase, but decreased. There is a feeling that the Ministry of Labor is simply adjusting a number of parameters so that they meet the requirements of the Fed. But if this is true, then "draw" in the Ministry of Labor is bad. It was necessary to correct other figures. Such a picture left investors confused and they began to look for where to "park" their money. Bitcoin took advantage of this situation, which grew quite well over the weekend. Given that in the US today is a day off, it can be assumed that Bitcoin's growth will continue. At least, until the situation does not calm down somewhat.

Technical picture

The previous forecast coincided, bitcoin managed to escape and overcome the level of 4420, directing us to the next value of 4650, where we actually approached. Now we see a slowdown, forming two-digit candles like "doji". Probably assume a temporary stagnation with a possible pullback of 4500/4470, where the "bulls" will try to regroup and in case of a loss of ascending interest, the quotation will try to gain a foothold above the value of 4650, opening the way to the psychological loss of 5000.

Trading recommendations for Bitcoin, October 9, 2017

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Analyst InstaForex
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