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15.10.201817:49 Forex Analysis & Reviews: BITCOIN Analysis for October 15, 2018

Long-term review

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Bitcoin has been extremely volatile recently which lead the market to be quite difficult to predict the upcoming momentum. Though the bias has been bullish since it remained above $6,000 area but having impulsive bearish pressure breaking the level and recently getting an impulsive bullish pressure pushing the price higher did lead the market to a extreme volatility level in the process. The price is currently residing above $6,500 area, dynamic level of 20 EMA and Kumo Cloud. As of the current scenario, the price is expected to push higher as of the recent impulsive bullish pressure observed recently which indicates further bullish momentum in the process. As the price remains above $6,000 area, the bullish bias is expected to continue with target towards $7,500 and later towards $8,000.

SUPPORT: 6,000, 6,500

RESISTANCE: 7,500, 8,000

BIAS: BULLISH

MOMENTUM: VOLATILE

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