Bitcoin has surged much higher above $7300 today without any retracement as we were expecting it to have. The bullish momentum is quite impulsive in nature which leads to a non-volatile trend without any deeper pullbacks along the way. As of the recent introduction of futures for Digital Currencies, the Bitcoin has found significant push which helped in the impulsive gain. Despite the Bearish Divergence in place, Bitcoin is still surging higher which does indicate that the impulsive bullish pressure is just making room for much deeper pullback and corrections in the coming days before it hits the next milestone at $8000 price level. As of the current situation, the price is still quite unbeatable with the bullish gains and it has moved far away from the dynamic level of 20 MA which is expected to result to certain pullback towards the levels before surging up much higher in the coming days.
With InstaForex, you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.
The material has been provided by InstaForex Company - www.instaforex.com