BITCOIN Analysis for April 2, 2018

Bitcoin has been quite volatile recently at the edge of $7,000 price area from where certain bullish pressure is expected at present. As for the current market sentiment, most of market participants are quite pessimistic about further momentum in bitcoin, so the market lacks bullish pressure recently. After completing the first quarter of 2018, which was quite negative for the crypto market, certain rebounds are expected this quarter which may lead to some bullish pressure in the market. As for the current scenario, the price is likely to proceed higher towards $8,500 price area in the coming days as the price remains above $6,500 with a daily close. A daily close above $7,500 will boost the impulsive bullish pressure in the market, resulting in a better probability for the upcoming bullish momentum.

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