BITCOIN Analysis for November 8, 2017

Bitcoin had a decent pullback towards the $6,910 support area and currently showing impulsive bullish pressure taking the price reside above $7,500 price level. Next week is expected to be quite volatile for Bitcoin which is likely to be one of the biggest events for the Cryptocurrency since its inception. The Bitcoin price is expected to be under pressure in the coming days despite the current bullish pressure which is expected to continue until price touches the $8,000 price resistance. The price was quite corrective this week having a deeper pullback since it broke above $6000 level. Currently, the price is expected to break above $7,500 level and proceed impulsively towards $8,000 price level by this week. As the price remains above $6,900-$7,000 price area with a daily close the bullish bias is expected to continue further.

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