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24.08.201811:22 Forex Analysis & Reviews: BITCOIN Analysis for August 24, 2018

Long-term review

Bitcoin has been quite indecisive and volatile recently which is still struggling at the edge of the $6,500 area from where a daily close above it is expected to inject further bullish momentum in the coming days. The price has been quite corrective and indecisive recently after the False-Break above $6,500. Though the price has been pushing lower, but it found support twice at the Kumo Cloud lower boundary and pushed higher with quite same impulsiveness with progressing higher lows. Currently, the price is expected to push higher and close above $6,500 to signal further impulsive bullish pressure for the coming days with the target towards $8,000.

SUPPORT: 6000

RESISTANCE: 6500

BIAS; BULLISH

MOMENTUM: VOLATILE

Exchange Rates 24.08.2018 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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