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05.09.201817:55 Forex Analysis & Reviews: Bitcoin analysis for September 5, 2018

Long-term review

Bitcoin has been quite impulsive with the bearish counter momentum today which did engulf a series of previous bullish momentum but currently it is held by the dynamic level of 20 EMA and Kumo Cloud support. Ahead of the high impact USD economic reports this week, certain volatility is expected. As of the current scenario, the dynamic level 20 EMA has managed to hold the price as support, whereas the Kijun Line is also expected to provide a strong support above $6,500 area. Therefore, the bullish bias is expected to continue further with target towards $8000-8500 area in the coming days.

SUPPORT: 6000, 6500

RESISTANCE: 7500, 8000, 10000

BIAS: BULLISH

MOMENTUM: VOLATILE

Exchange Rates 05.09.2018 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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