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19.02.201817:00 Forex Analysis & Reviews: Analysis of bitcoin for February 19, 2018

Long-term review

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Bitcoin has been quite indecisive recently after an impulsive bullish gain breaking above $10,000 price area. The steady bullish pressure from the bounce since $6000 price area which has lead the price to head above $10,000 without much deeper in the process. As $10,000 price area is a psychological level and market participants has been quite confident since the break above the level it is expected to create higher highs in the coming days. As of the current scenario, the price has pushed more than 50% of yesterday's bearish pressure which indicates the strength of bullish participants in the market and is expected to push the price towards $12,000 and later towards $15,500 price area in the future.

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