BITCOIN Analysis for September 6, 2018

Bitcoin has been quite impulsive inside the bearish bias recently which lead the price towards the support area of $6,000-6,500 from where certain bullish momentum is expected in the process. There has been certain correction and indecision in Bitcoin which has lead to the drastic fall in the price which resulted in a downward move by $1,000 in 48 hours, which engulfed a series of bullish daily candles in the process. Meanwhile, price remains above $6,000-6,500 area with a daily close, whereas the Chikou Span also got support from the Price Line. So, the price is expected to push higher towards $7,500 and later towards $8,000 area in the coming days.

SUPPORT: 6000, 6500

RESISTANCE: 7500, 8000, 10000

BIAS: BULLISH

MOMENTUM: VOLATILE

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