Bitcoin has reached $6,000 price area before showing some bullish intervention in the market. The overall Crypto market, as well as the stock market, has been also in the bearish mode recently whereas the investors are currently quite indecisive about upcoming market momentum. Impulsive selling pressure on Bitcoin did affect all major Crypto currencies like Ethereum and also the recently published ICOs as well. Though the South Korean crisis is expected to be over very soon. So, as of the current scenario, after the recent bearish rejection off the $6,000 price area, the price is currently residing just below $7,000 price level from where, if breached, the price is expected to push higher with the target towards $10,000 and later towards $12,000 area in the coming days. As $5,000-$6,000 price area is an important area of support, so as the price remains above this area, the bullish pressure is expected to continue further.
The material has been provided by InstaForex Company – www.instaforex.com
Bitcoin has reached $6,000 price area before showing some bullish intervention in the market. The overall Crypto market, as well as the stock market, has been also in the bearish mode recently whereas the investors are currently quite indecisive about upcoming market momentum. Impulsive selling pressure on Bitcoin did affect all major Crypto currencies like Ethereum and also the recently published ICOs as well. Though the South Korean crisis is expected to be over very soon. So, as of the current scenario, after the recent bearish rejection off the $6,000 price area, the price is currently residing just below $7,000 price level from where, if breached, the price is expected to push higher with the target towards $10,000 and later towards $12,000 area in the coming days. As $5,000-$6,000 price area is an important area of support, so as the price remains above this area, the bullish pressure is expected to continue further.
The material has been provided by InstaForex Company – www.instaforex.com
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