BITCOIN Analysis for April 20, 2018

Bitcoin has been quite steady and slow with the bullish gains recently which is expected to push the price to breach above $8,500 in the coming days. The price is currently residing above $8,200 area from where it is expected to proceed higher with a target towards $10,000 price area. The slow and steady progress is a good sign for the Bitcoin as this explains the scenario of increasing market participants along the way. After the price bounced off the $6,500 area, the bullish pressure has been non-volatile. If the price remains with constant pressure, a breakout above $8,500 and proceeding towards $10,000 will be easier. As the price remains above $7,000 with a daily close amid lack of fundamental news to impact the Bitcoin gains in the process, the bullish bias is expected to continue.


The material has been provided by InstaForex Company -