Bitcoin has been impulsively bullish after the retest of the $6,000 price level recently. It was expected that the price will retrace much deeply towards the dynamic levels of 20 EMA and Tenkan Sen, but due to heavy bullish momentum, the price pushed higher without any deeper pullback. The last month was very challenging for the Bitcoin whereas it did overcome the obstacles and is currently holding the price above the $6,500 price level. As the price is currently residing above the $6,000 level, the bullish bias can be stated as a very strong, but we might observe some correction along the way towards our target price level of the $7,000 area. The price is quite far away from the dynamic levels, which is expected to pull the price down towards them and push the price higher again towards the target of the $7,000 area. As the price remains above the $6,000 price level, the bullish bias is expected to continue further.
With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader 4.
The material has been provided by InstaForex Company – www.instaforex.com
Bitcoin has been impulsively bullish after the retest of the $6,000 price level recently. It was expected that the price will retrace much deeply towards the dynamic levels of 20 EMA and Tenkan Sen, but due to heavy bullish momentum, the price pushed higher without any deeper pullback. The last month was very challenging for the Bitcoin whereas it did overcome the obstacles and is currently holding the price above the $6,500 price level. As the price is currently residing above the $6,000 level, the bullish bias can be stated as a very strong, but we might observe some correction along the way towards our target price level of the $7,000 area. The price is quite far away from the dynamic levels, which is expected to pull the price down towards them and push the price higher again towards the target of the $7,000 area. As the price remains above the $6,000 price level, the bullish bias is expected to continue further.
With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader 4.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: