BITCOIN Analysis for September 14, 2018

Bitcoin has gained quite impulsively yesterday which led the price above $6,500 but with a weak momentum. The bullish pressure is still quite weak in comparison to the recent bearish pressure. However, a daily close above the dynamic level of 20 EMA, holding BTC price as resistance, is expected to provide the required pressure for the upcoming bullish momentum with a target towards $8,000. As the price remains above $6,000 area with a daily close, the bullish bias is expected to continue further in the coming days.

SUPPORT: 6000, 6500

RESISTANCE: 7500, 8000

BIAS: BULLISH

MOMENTUM: IMPULSIVE

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