BITCOIN Analysis for January 30, 2018

Bitcoin is currently residing at the edge of $11,000 price area inside the range of $8,000 to $12,000. After the recent stable gains, the engulfing of a bearish candle does indicate further correction in the Bitcoin for the coming days. The volatility and liquidity in this pair have decreased as it used to be, but market participants are not quite happy about the current situation who invested the money to see some quick profit. The overall Crypto market has slowed pretty well whereas the flagship Bitcoin is correcting itself in the process. As for the speculators, the correction and slow momentum of Bitcoin growth are expected to continue further in the coming days until any positive fundamental event hits the market to push higher impulsively. As of the current scenario, the range between $10,000 and $12,000 area is squeezing the price having a Bullish Continuation Divergence in place for a while now. As the price remains above $10,000 price area, the bullish bias is expected to continue with the target towards $15,500 price area in the coming days.

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

Source:: BITCOIN Analysis for January 30, 2018