25.10.201815:55 Forex Analysis & Reviews: BITCOIN Analysis for October 25, 2018

Long-term review

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Bitcoin has been quite volatile recently which led to certain corrections below $6,500 area. The price sank lower below $6,500 quite impulsively recently. The price is currently climbing higher while the dynamic level 20 EMA, Tenkan, and Kijun line are acting as support. The price is yet to break above Kumo Cloud and $6,500 area which is expected to push the price impulsively higher towards $7,500 and later towards $10,000 area in the future. As the price remains above $6,000 area with a daily close, the bullish bias is expected to continue.

SUPPORT: 6,000

RESISTANCE: 6,500, 7,500

BIAS: BULLISH

MOMENTUM: VOLATILE

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