BITCOIN Analysis for February 23, 2018

Bitcoin has recently closed below the $10,000 price area, which is expected to push the price much lower in the coming days. The impulsive bullish pressure has been quite impressive lately, but it was not sustained as expected. the price was expected to bounce off the $10,000 price area as it was a crucial level but as it did not, the market participants has turned quite indecisive currently. Though a lot of countries in the world have been quite optimistic about digital currencies, due to lack of positive fundamentals recently, the crypto market seemed to have slowed down a bit. As of the current scenario, the price is expected to head towards the $7,500 price area in the coming days as the price remains below $10,000 with a daily close.

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The material has been provided by InstaForex Company - www.instaforex.com