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17.12.201816:13 Forex Analysis & Reviews: BITCOIN Analysis for December 17, 2018

Long-term review

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Bitcoin has raised above the area of $3,350, after being corrective and bearish below the area for a few days. The price has recently increased above the $3,350 area, breaking through the dynamic level of 200 EMA. As of the current market scenario and the formation of Bearish Extreme Divergence for the sudden bullish momentum, the price is expected to go down towards the $3,350 area as a pullback, and then move up towards the $3,500 resistance area in the coming days. As the price remains above the area of $3,000, the bullish pressure is anticipated to continue pushing the price higher, despite the current overall bearish trend.

SUPPORT: 3,000; 3,350

RESISTANCE: 3,450; 3,500

BIAS: BEARISH

MOMENTUM: VOLATILE

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