BITCOIN Analysis for September 12, 2018

BITCOIN has been quite volatile and corrective which has been observed to have a bearish squeeze below $6,500 area which indicates a breakout with impulsive momentum from the triangle pattern area. The price has been pushing lower recently with lower highs while the higher lows in the triangle are not quite strong enough to create strong pullbacks. Meanwhile, the price is expected to push lower towards $6,000 area while also breaking below the triangle support as well. As the price remains above $6,000 area, there would be certain chance to have an impulsive bullish bounce off the area to resume the bullish momentum again in the market.

SUPPORT: 6000

RESISTANCE: 6500, 7500

BIAS: BEARISH

MOMENTUM: VOLATILE

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