FX.co ★ BITCOIN Analysis for April 23, 2018

Bitcoin has been quite indecisive today with certain bearish impulsive pressure throughout the day which is currently showing some bullish intervention. Bitcoin has been quite positive with the recent gains which were non-volatile in nature with no certain pullbacks along the way. The price has successfully breached above the $8,500 area which is an indication of further bullish pressure with a target towards $10,000 in the coming days. The positive gains are speculated as the impact of the faster transaction in Bitcoin network whereas becoming more scalable along the way. As of the recent information, the transaction cost is also being cut off whereas for the positive fundamental news like this the bullish gain in Bitcoin has been irresistible. As of the current scenario, the price is residing above $8,500 and Kumo Cloud as well. Certain bearish intervention may occur as a form of retrace in the coming days but as the price remains above $7,000 area, the bullish bias is expected to continue.