For Traders

Analytical Reviews

Crypto-currencies

19.09.201818:35 Forex Analysis & Reviews: BITCOIN Analysis for September 19, 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 still quite indecisive between the range of $6,000 to $6,500 from where the price is currently correcting itself. After the previous impulsive bearish momentum off the $6,500 area, it was quite obvious for the bears to take over and push the price lower towards $6,000, but instead, the price managed to counter with certain bullish pressure leading to indecision in the market. As of the current market scenario, the price is expected to push higher towards $6,500, where the dynamic level of 20 EMA also rests as resistance, and after rejecting off the level, certain bearish pressure with $6,000 as target is expected. As the price remains below $6,500 with a daily close, the bearish bias is expected to continue.

SUPPORT: 6,000

RESISTANCE: 6,500

BIAS: BEARISH

MOMENTUM: VOLATILE

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade