BITCOIN Analysis for April 9, 2018

Bitcoin has continued its bearish pressure below $7,000 which is expected to proceed much lower towards $5,000-5,500 area in the coming days. The bearish pressure is still not that impulsive as expected which does indicate the weakening of bears along the process. There have been certain statements about Bitcoin where it is expected to stay and the drastic fall from $20,000 price area to $7,000 was not the worst scenario. The Billionaire trader, George Soros has already taken interest in the Crypto-trading which does also explain the reliability of the system as per expert opinion. As of the current scenario, the price is expected to proceed lower towards $5,500 support area in the coming days before we see any bullish intervention along the way. As the price remains above $5,000 with a daily close, the bullish bias is expected to continue further in the coming days.

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