BITCOIN Analysis for February 9, 2018

Bitcoin has been quite stable with the gains recently which is indeed quite positive for the Crypto currency itself. Recently the market is being observed settling down a bit, with no more regulators trying to regulate the Bitcoin and pressurizing it as well. As of the current scenario, the investors are now trying to settle down which has resulted in low volatility and sustainable growth. The price is currently residing above $7500 price area with some bearish rejection from where the price is expected to push higher towards $10,000 price area in the coming days. The consolidation is expected to continue further until price breaks above $10,000 price area with a daily close for an impulsive bullish pressure like before. As the price remains above $7,500 with a daily close, further bullish momentum is expected to push the price higher in the coming days.

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