BITCOIN Analysis for April 5, 2018

Bitcoin is currently residing below the $7,000 price area with a certain bounce off the $6,500 today. The bearish squeeze is still quite intact in the market but the tension and indecision in the market seem to be increasing everyday whereas market speculators are still quite optimistic with the further gains in the coming days. The market is still in lower liquidity for which certain spike is expected on either side of the market. As of the current scenario, Bullish Regular Divergence has been spotted in the market which is indicating certain bullish intervention is expected in the market which might lead the price to proceed higher towards $8,000 in the coming days. As the price remains above the $5,000 area, the bullish bias is expected to continue.

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