BITCOIN Analysis of November 27, 2017

Bitcoin very impulsive with the gains breaking above $9,000 and residing above the $9,600 price area. Price has been more impulsive than expected and $10,000 price area can be hit anytime sooner. Bitcoin has been quite volatile recently after the Bitcoin wallet hack but with some correction it has moved quite higher without any certain retracement. As of the current scenario, Bitcoin is expected to show some bearish pressure towards the dynamic levels of 20 EMA, Tenkan and Kijun line. The price is expected to consolidate for a certain period before it gets the impulsive push with target towards $10,000 price level in the coming days. As the price remains $9,000 price area, the bullish bias is expected to continue further.

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