FX.co ★ BITCOIN Analysis for March 21, 2018

Bitcoin has been quite impressive with the bullish gains which lead to a daily close above $8,500 price area. A the recent G20 Meeting devoted to the cryptotrading, it was stated that the cryptocurrencies are not harmful for the financial world that provided the Bitcoin a fresh impetus. As for the current scenario, amid lack of bad news for the Bitcoin and cryptomarket, the price is expected to push higher towards $10,000 in the coming days. The bullish pressure is expected to be quite slow but stable and the price may correct itself along the way. As the price remains above $7,500 price area, the bullish bias is expected to continue though dynamic level of 20 EMA is currently acting as a resistance but a daily close above it will inject impulsive bullish pressure in Bitcoin to surge higher in the future.