BITCOIN Analysis for November 27, 2018

Bitcoin has been quite volatile and corrective recently, drifting lower towards $3,500-50 support area. The price is being held by the dynamic level of Tenkan line as resistance where the Kumo Cloud has been quite impressive keeping the price lower in the process. The price is currently sinking lower amid impulsive pressure which is expected to lead the price towards $3,550 area in the coming days from where certain pullbacks are expected before the price pushes much lower in the future. As the price remains below $5,000 with a daily close, the bearish bias is expected to continue further.

SUPPORT: 3,000, 3,500-50

RESISTANCE: 4,000, 4,500, 5,000

BIAS: BEARISH

MOMENTUM: VOLATILE

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