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12.01.201817:13 Forex Analysis & Reviews: BITCOIN Analysis for January 12, 2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Bitcoin is currently struggling at the edge of $13,000 price area on the way to break below this price level in the coming days. The challenges and pressure from the global regulators for Bitcoin has been the biggest barrier against the bullish sentiment. South Korean ban on local cryptocurrency exchanges has been in effect by now. No wonder, the market sentiment is currently not quite sure about the growth of Bitcoin in the recent future. As for the recent Chinese Bitcoin Mining situation, the growth is speculated to be very low which also is a big factor to affect the growth of the Bitcoin's value. As for the current scenario, Bitcoin is expected to proceed much lower towards $11,000 price area amid confluence with Dynamic levels of 20 EMA, Tenkan, and Kijun line. Considering the current Bitcoin price action cycle, the price is expected to be quite impulsive with the bearish gains after it clears $13,000 with a daily close.

Exchange Rates 12.01.2018 analysis

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