BITCOIN Analysis for December 6, 2018

Trading 06 déc 2018 Donner votre avis

Bitcoin is still quite volatile while pushing lower with certain pullbacks in the process. The price has recently formed a Bullish Divergence which might lead to certain bullish pressure. However, the probability will only increase as the price trades firmly above $4,000 and the dynamic level of 200 EMA resistance along with Kumo Cloud resistance with a daily close. Despite the bears dominance in the Bitcoin, the volatility and deeper bullish pressure indicate certain counter-momentum emerging in the market. However, being below $4,000, 200 EMA, and Kumo Cloud, the bearish pressure is expected to continue pushing the price lower towards $3,500-600 and later towards $3,000 in the coming days.

SUPPORT: 3,000, 3,500, 3,600

RESISTANCE: 4,000, 4,250, 4,500




The material has been provided by InstaForex Company -

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