BITCOIN Analysis for December 18, 2017

analytics5a37ddb56f0a9.jpg

Bitcoin has been impulsive with the gains recently which pushed the price up to the record high price of $19,600. Nevertheless, BTC could not keep the momentum that has led to impulsive bearish pressure taking the price towards $18,500. The price is expected to hit $20,000 by the first quarter of January as recently CME Exchange launched the Bitcoin Futures which is expected to trade Bitcoin above $20,000 price area. The market is likely to be quite volatile in the coming days as new investors and market players are going to enter the Bitcoin market. As for the current scenario, price is currently residing inside the Kumo Cloud support above $18,500 price area after impulsive bearish pressure, but the support is expected to push the price higher towards $20,000 in the coming days. As the price remains above the $17,500, the bullish bias is expected to continue further.

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

Source:: BITCOIN Analysis for December 18, 2017

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply

*