Bitcoin correction is still going on in the current market situation, whereas the recent bullish momentum is currently turning quite weak periodically. Despite having no negative fundamentals recently, a certain correction is expected to be an indefinite pressure of market participants in the market. Currently the price is being held by the dynamic level of 20 EMA below the $8,000 price area. Though the price has been quite corrective with its structure but proceeding lower highs is an indication of upcoming bullish momentum in bitcoin. A daily close above $8,000 will inject further bullish pressure with a target towards $10,000 in the future.
The material has been provided by InstaForex Company – www.instaforex.com
Bitcoin correction is still going on in the current market situation, whereas the recent bullish momentum is currently turning quite weak periodically. Despite having no negative fundamentals recently, a certain correction is expected to be an indefinite pressure of market participants in the market. Currently the price is being held by the dynamic level of 20 EMA below the $8,000 price area. Though the price has been quite corrective with its structure but proceeding lower highs is an indication of upcoming bullish momentum in bitcoin. A daily close above $8,000 will inject further bullish pressure with a target towards $10,000 in the future.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: