Bitcoin has been quite corrective and volatile recently after breaking below $6,500 with a daily close. Though after the break price managed to make a daily close with strong bearish rejection which created a bullish pin bar. The overall trend is still bearish, so the price is expected to drop much lower in the coming days, most probably in light of Willy Woo’s prediction. The price is expected to decline towards $5,000-5,500 area. Though the market is still volatile, as the price remains below $8,000 area with a daily close, the bearish bias is expected to continue further though certain correction or retracement can be observed along the way.
The material has been provided by InstaForex Company – www.instaforex.com
Bitcoin has been quite corrective and volatile recently after breaking below $6,500 with a daily close. Though after the break price managed to make a daily close with strong bearish rejection which created a bullish pin bar. The overall trend is still bearish, so the price is expected to drop much lower in the coming days, most probably in light of Willy Woo’s prediction. The price is expected to decline towards $5,000-5,500 area. Though the market is still volatile, as the price remains below $8,000 area with a daily close, the bearish bias is expected to continue further though certain correction or retracement can be observed along the way.
The material has been provided by InstaForex Company – www.instaforex.com
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