14.11.201818:04 Forex Analysis & Reviews: BITCOIN Analysis for November 14, 2018

Long-term review

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Bitcoin has been quite impulsive with bearish price swings today which made a certain formation of pushing much lower towards the $6,000 support area in the coming days. Despite the overall bullish bias in the market, certain bearish pressure puts a big question mark on the reliability of the bullish pressure for the coming days. The price is currently residing at the edge of recent lows which, if taken out, may lead to impulsive bearish pressure towards $6,000 from where certain bounce may be observed. Otherwise, a break below $6,000 will lead the price much lower towards $5,000 in the coming days.

SUPPORT: 5,000, 5,500, 6,000

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

BIAS: BULLISH

MOMENTUM: VOLATILE

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