13.11.201818:16 Forex Analysis & Reviews: BITCOIN Analysis for November 13, 2018

Long-term review

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Bitcoin is still struggling amid the lack of clear trend momentum. Recently, BTC has been trading inside the bullish bias above $6,000. The price has been rejected several times from $6,400 which turned the price into an event level. This is expected to lead to further bullish pressure if broken with a daily close. Though the price is corrective and volatile, it has managed to squeeze upward with higher lows that indicates bullish momentum in the coming days.

Meanwhile, a break above $6,400 is required to continue climbing higher. Otherwise, an impulsive break below recent low of $6,300 may lead to further bearish pressure with a target towards $6,000. As the price remains above $6,000, the bullish bias is expected to continue.

SUPPORT: 6,000

RESISTANCE: 6,400, 6,500, 7,000,

BIAS: BULLISH

MOMENTUM: VOLATILE

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