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18.12.201817:23 Forex Analysis & Reviews: BITCOIN Analysis for December 18, 2018

Long-term review

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Bitcoin has been quite impulsive with the recent bullish momentum, leading the price towards $3,500-600 area. The price is currently residing inside the resistance area of $3,500-600 area from where it is expected to push higher towards $4,000 in the coming days if it manages to break above $3,600 area with a daily close. The dynamic levels such as 20 EMA, Tenkan and Kijun line is working as dynamic support, whereas breaking above 200 EMA signaled the upcoming bullish pressure. As the price remains above $3,000 area, the bullish pressure is expected to continue. Moreover, a daily close above $3,600 is expected to lead the price towards $4,000 area in the future.

SUPPORT: 3,000, 3,350, 3,500

RESISTANCE: 3,600, 4,000

BIAS: BULLISH

MOMENTUM: VOLATILE but IMPULSIVE

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