28.11.201817:45 Forex Analysis & Reviews: BITCOIN Analysis for November 28, 2018

Long-term review

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Bitcoin has been quite impulsive with the bullish gains recently which lead the price to reside at the edge of $4,250 area breaking above $4,000 area. The price is currently being held by the dynamic level of 200 EMA from where it is expected to push lower having Bearish Continuous Divergence emerging recently. The price is being supported by the dynamic levels of 20 EMA, Tenkan, and Kijun line. On the back of current volatility and bearish pressure, BTC is likely to regain the bearish momentum which will lead the price towards $3,000 area in the future. As the price remains below $4,500 area with a daily close, the impulsive bearish bias is expected to continue.

SUPPORT: 3,500, 4,000

RESISTANCE: 4,250, 4,400, 4,500

BIAS: BEARISH

MOMENTUM: VOLATILE

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