empty
 
 
16.11.2018 05:36 PM
BITCOIN Analysis for November 16, 2018

Bitcoin managed to push higher above $5,500 area recently after it broke below $6,000 area with a daily close amid impulsive bearish pressure. The price recently formed Extreme Divergence. So, certain retracement towards $6,000 area is expected before the price sinks lower with a target towards $5,000 area in the future. Currently the price is at the edge of the dynamic level of 20 EMA from where it is expected to pull back for a certain period. As the price remains below $6 000 area with a daily close, the bearish bias is expected to continue further.

SUPPORT: 5,000, 5,500

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

BIAS: BEARISH

MOMENTUM: VOLATILE

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback