BITCOIN Analysis for May 14, 2018

Bitcoin has been impulsive inside a bearish trajectory recently that led the price to consolidate at the edge of $8,500 support area currently. Despite certain bearish pressure in the market, the overall Crypto market is going stronger day by day recently. So, Bitcoin bulls are likely to attack in the coming days. Everyday, retail market participants and big companies are entering the Crypto market which is speculated as a good sign for the bullish trend in the crypto markets in the coming days. Bitcoin being the flagship of all the cryptocurrencies is expected to lead the market to a better place in the future. As for the current scenario, certain bearish pressure in the market is being observed at the edge of $8,500 but the price is still being supported by the Kumo Cloud that is expected to lead to further bullish momentum in the coming days. As the price remains above $8,000-$8,500 area with a daily close, the bullish bias is expected to continue further.


The material has been provided by InstaForex Company -