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10.09.201815:39 Forex Analysis & Reviews: BITCOIN Analysis for September 10, 2018

Long-term review

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Bitcoin has been quite impulsive with the bearish momentum recently which led the price below $6,500 with a daily close resulting in certain correction and indecision at the current market scenario. The price has been trying hard to push higher while residing inside the support area of $6,000-6,500, but the bullish momentum cannot be yet confirmed until the price breaks above $6,500 area with a daily close. The dynamic level of 20 EMA is also indicating a downward movement but having the price residing above $6,000 area with a daily close does indicate the bullish bias is still on and certain bullish comebacks can take place in the process. If the price breaks above $6,500 with a daily close, the bullish run is expected to continue with a target towards $8,000 area.

SUPPORT: 6000

RESISTANCE: 6500, 7500, 8000, 10000

BIAS: BEARISH

MOMENTUM: VOLATILE

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