25.09.201819:38 Forex Analysis & Reviews: Bitcoin analysis for September 25, 2018

Long-term review

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Bitcoin has been quite impulsive with the bearish gains today which lead the price to push below $6,500 and dynamic level of 20 EMA with a strong momentum. The indecisive phase of Bitcoin is not coming to an end this quick as the market context shows. Though the market is volatile, it has left certain traces of bullish trend structure by pushing higher step by step with great stability. Though the price is impulsively bearish, it remains above $6,000 and creates a new higher low in the process while also breaking above $6,500 will provide the necessary indication for further bullish pressure with target towards $7,500 and later towards $8,000 resistance area in the future.

SUPPORT: 6000

RESISTANCE: 6500, 7500, 8000

BIAS: BULLISH

MOMENTUM: VOLATILE

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