**Bitcoin leaves behind** [**Gold** ](https://uk.tradingview.com/symbols/COMEX-GC1!/)**while demonstrating double-digit gains in October.**



\* [Bitcoin ](https://uk.tradingview.com/symbols/BTCUSD/)ended up October with a 10.26% gain, marking a three-month losing streak. At the same time, [Gold ](https://uk.tradingview.com/symbols/COMEX-GC1!/)gained just 2.74% in the same month, but previously dropping 3.17% in September – its largest monthly decline since June 2018.
\* Overall, [Bitcoin ](https://uk.tradingview.com/symbols/BTCUSD/)is gaining more upward momentum, seeking to break out of the [wedge](https://uk.tradingview.com/ideas/wedgepattern/) . The powerful [bullish](https://uk.tradingview.com/ideas/bullish/) run could bring the price up to June’s highs of $14,000.
\* The only factor that has recently restrained the price from moving higher is a huge selling [volume](https://uk.tradingview.com/ideas/volume/) on a Daily candle of the 26Oct’19. Sellers have hammered down all agile buyers’ attempts in the short-term, so the market certainly needed to respire before taking another **Long** shot.
\* The [bearish](https://uk.tradingview.com/ideas/bearish/) scenario is assigned with a low probability, for the time being, since the Bears would have to put forth tremendous effort to annihilate initiated [bullish](https://uk.tradingview.com/ideas/bullish/) impetus.

**Mid- to long-term trade signal**

Buy @ $8,500 – $9,300.
Mid- to long-term Target: $14,000.

**Watch for our Updates to get real-time superior signals!**


*This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.*

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