empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

16.04.201819:57 Forex Analysis & Reviews: BITCOIN Analysis for April 16, 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 has been quite impulsive with the bearish gains after a long series of bullish pressure since it broke above $6,500 price area. The price recently bounced off the $8,300 area from where today certain bearish pressure was observed. The bullish pressure is expected to continue further while trying to breach above $8,500 with a target towards $10,000 in the coming days but before that certain bearish pressure as a form of retracement is quite normal. The confidence of the bulls seemed to be back again and expected to push the price much higher in the coming days. As of the current scenario, the price is expected to proceed higher as it remains above $7,000 price area with a daily close. The price has already breached above the dynamic levels of 20 EMA and Ichimoku lines as well. So as a result, further bullish bias is expected in the Bitcoin market.

Exchange Rates 16.04.2018 analysis

InstaForex Analyst
Analytical expert of InstaForex
© 2007-2024

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



You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off