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15.11.201817:40 Forex Analysis & Reviews: BITCOIN Analysis for November 15, 2018

Long-term review

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Bitcoin pushed impulsively lower recently that lead the price to break below $6,000 area amid strong bearish pressure. Currently the price is residing below $5,500. The price is expected to retrace back towards $6,000 area before proceeding towards $6,000 support area in the coming days. The price is currently residing below 11-month low, from where it is likely drop much lower in the context of the current price action but with certain corrections along the way. As the price remains below $6,000 area, the bearish bias is expected to continue.

SUPPORT: 4,850, 5,000

RESISTANCE: 5,500, 6,000, 6,400

BIAS: BEARISH

MOMENTUM: IMPULSIVE

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