BITCOIN Analysis for June 12, 2018

Bitcoin has been quite bearish with the gains getting certain bullish intervention from the $6,500 area which is expected to push the price higher towards the $7,500 to $8,000 area in the coming days. As of the recent hack attack, Bitcoin fell dramatically which lead to certain indecision in the market due to insecurity being felt by the market participants. As of the current scenario, the price is expected to push higher towards the mean of 20 EMA where Tenkan and Kijun lines also cross. As the price remains above the $6,500 area with a daily close, certain bullish pressure is expected in the future.

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