FX.co ★ BITCOIN Analysis for September 19, 2018

Bitcoin is still quite indecisive between the range of $6,000 to $6,500 from where the price is currently correcting itself. After the previous impulsive bearish momentum off the $6,500 area, it was quite obvious for the bears to take over and push the price lower towards $6,000, but instead, the price managed to counter with certain bullish pressure leading to indecision in the market. As of the current market scenario, the price is expected to push higher towards $6,500, where the dynamic level of 20 EMA also rests as resistance, and after rejecting off the level, certain bearish pressure with $6,000 as target is expected. As the price remains below $6,500 with a daily close, the bearish bias is expected to continue.

SUPPORT: 6,000

RESISTANCE: 6,500

BIAS: BEARISH

MOMENTUM: VOLATILE