BITCOIN Analysis for May 7, 2018
May 7, 2018 1:21 pmVideo
Latest News
- Trading Signals for EUR/USD for May 3-5, 2024: sell below 1.0803 (overbought – 5/8 Murray) May 3, 2024
- Trading Signals for GOLD for May 3-5, 2024: sell below $2,320 or below $2,300 (21 SMA – 200 EMA) May 3, 2024
- Technical Analysis – GBPUSD advances above descending trendline May 3, 2024
- USD experiences day X May 3, 2024
- Bitcoin licks wounds as Fed comes on the rescue – Crypto News May 3, 2024
- GBP/USD: trading plan for the US session on May 3rd (analysis of morning deals). The pound is preparing to get out of the May 3, 2024
- EUR and GBP may drop May 3, 2024
- EUR/USD: trading plan for the US session on May 3rd (analysis of morning deals). US data will be the key moment of the week May 3, 2024
- USD/JPY: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- GBP/USD: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- Video market update for May 03, 2024 May 3, 2024
- EUR/USD: Simple trading tips for novice traders on May 3rd (US session) May 3, 2024
- Could the BoE adopt a more dovish stance on Thursday? – Preview May 3, 2024
- EUR/USD. May 3rd. Bulls don’t give up without a fight May 3, 2024
- GBP/USD. May 3rd. Bears are counting on a strong US labor market May 3, 2024
- Market Comment – Stocks enjoy Fed-induced bounce as dollar slips ahead of NFP May 3, 2024
- Weekly Forex Outlook: 03/05/2024 – BoE and RBA decisions headline a calm week May 3, 2024
- Week Ahead – BoE and RBA decisions headline a calm week May 3, 2024
- USD/JPY: trading tips for beginners for European session on May 3 May 3, 2024
- GBP/USD: trading tips for beginners for European session on May 3 May 3, 2024
Bitcoin is currently quite bearish in nature after being bounced off the $10,000 price area recently. Bitcoin has been quite non-volatile and impulsive with the bullish pressure recently which lead the price nearer to the psychological level of $10,000. Though there has been a lot of speculations that the price will clear $10,000 with ease but recently the speculated proved wrong when the price rejects off the $10,000 with an impulsive bearish pressure. Though the trend is still quite bullish and still there are certain support areas like Kumo Cloud, Dynamic level of 20 EMA, Tenkan and Kijun line and also the price area of $8,500 which has been an important area of support as well. Certain Bearish Divergence is also observed along the way which is expected to lead to upcoming retracements before pushing higher in the future. As for the current scenario, the price is expected to correct itself along the way. We foresee a push higher breaching above $10,000 and heading towards $11,500 in the coming days. As the price remains above $8,500 area, the bullish bias is expected to continue further.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: