FX.co ★ BITCOIN Analysis for September 24, 2018

Bitcoin has been quite indecisive and slightly bearish recently after breaking above $6,500 area with daily close. The price is currently residing at the edge of dynamic level of 20 EMA, from where certain bearish pressure towards $6,500 is expected as retracement before pushing higher with target towards $7,500 and later towards $8,000 in the coming days. As of the current scenario, the indecision and retracement is calculated as pullbacks for further upward momentum. As the price remains above $6,000 area with a daily close, the bullish bias is expected to continue.

SUPPORT: 6,500, 6,000

RESISTANCE: 7,500, 8,000

BIAS: BEARISH

MOMENTUM: VOLATILE