Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

BITCOIN Analysis for August 17, 2018

August 18, 2018 Analytics

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Bitcoin has been quite consistent with the bullish momentum after being rejected off the $6,000 area with a daily close. The price action is currently quite volatile which signals certain bullish pressure emerging in the market which might lead to certain bullish momentum, so the price could climb towards $8,000 resistance area in the near future. Meanwhile, the price is residing at the edge of $6,500 area. A daily close above $6,500 is expected to inject impulsive bullish pressure in the market with an objective of pushing higher towards $8,000 resistance area in the future. As the price remains above $6,000 area, the bullish bias is expected to continue.

SUPPORT: 6,000

RESISTANCE: 6,500, 8,000

BIAS: BEARISH

MOMENTUM: VOLATILE

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

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