BITCOIN Analysis for January 2, 2018

Bitcoin has been residing inside the range of $11,130 to $15,500 for a while now whereas the price is currently struggling to gain bullish momentum. Currently alternative coins like Ethereum, Ripple and Litecoin is taking the limelight of the Bitcoin which left the price indecisive with indefinite trend in place. It is also rumored that Asian regulators are trying to pressure Bitcoins for which the price is being held in a range. The year 2017 was one of the best year for Bitcoin since its launch but due to alt coins the market cashflow has diversified from the centralized Bitcoin investment. As of the current scenario, the price is expected to push higher towards $15,500 price area in the coming days as the price remains above $11,130 support area. The dynamic levels are currently quite indecisive and a daily break above $15,500 will lead to impulsive bullish gains in the future or else the tight range will be holding the price for a longer period.


The material has been provided by InstaForex Company -