BITCOIN Analysis for November 23, 2018

Bitcoin has been quite volatile today while pushing lower below $4,500 area with a daily close. The price has been quite bearish recently after breaking below $5,000 area which is expected to push much lower towards $3,500 area in the coming days. The bearish trend is quite non-volatile while the dynamic levels like 20 EMA, Tenkan and Kijun line signals further bearish pressure in the future. As the price remains below $5,000 area with a daily close, further bearish momentum is expected with a target towards $3,500 area in the coming days.

SUPPORT: 3,500, 4,000

RESISTANCE: 4,500, 5,000

BIAS: BEARISH

MOMENTUM: NON-VOLATILE

The material has been provided by InstaForex Company – www.instaforex.com

Source:: BITCOIN Analysis for November 23, 2018