BITCOIN Analysis for September 7, 2018

Bitcoin has been struggling to create new highs with a target towards $8,000 area, while pushing lower aggressively towards $6,000-6,500 support area in the process. Tthere are certain optimistic statements about Bitcoin having a bright future with new highs as it is being mined impulsively till now. Meanwhile, the price is residing inside the support area of $6,000-6,500 area from where certain volatile and corrective pressures may be observed. However, with a daily close above $7,500 the price is expected to push higher towards $8,000.

SUPPORT: 6000

RESISTANCE: 6500, 7500, 8000

BIAS: BEARISH

MOMENTUM: VOLATILE

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