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 November 1, 2018

November 1, 2018 Analytics

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Bitcoin has been quite impressive with recent bullish gains under overall extreme bearish pressure since it broke below $6,500. The price rebounded higher amid intense impulsive pressure which engulfed previous corrections and bearish momentum with ease. The price is currently residing above the dynamic levels like 20 EMA, Tenkan, and Kijun line while being inside the Kumo Cloud resistance. As the price remains above $6,000 with a daily close, the bullish bias is expected to continue further. If Kumo Cloud clears up bullish momentum, it will lead to more impulsive bullish pressure in the future.

SUPPORT: 6,000

RESISTANCE: 6,500, 7,500

BIAS: BULLISH

MOMENTUM: VOLATILE

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

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