Bitcoin Analysis for December 20, 2017 20.12.2017

[ad_1]

Bitcoin has been impulsively bearish and volatile recently, taking the price towards the support area between $16,600 and $17,400. The price is currently struggling to bounce off the support area whereas the impulsive pressure of bears seemed to be quite strong this time. Since the break above $8000 price area, Bitcoin’s deepest retracement is currently going on. The bearish pressure is speculated as the investors are looking for a much cheaper alternative to Bitcoin and pulling their funds out of the Bitcoin market. Bitcoin is indeed the most promising cryptocurrency and the flagship of it but the struggle seems to be very short as the upcoming trading of futures from January 2018 is expected to make the price surge much higher. As for the current scenario, BTC is trading inside the support area of $16,600 to $17,400. The confirmation of further bullish impulsive pressure is expected to hit market after the price breaks above the $18,000 with a daily close. Until price breaches the $18,000 level in the coming days, the bearish pressure is expected to continue further.

Exchange Rates 20.12.2017 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Rocky Yaman,
Analytical expert
InstaForex Group © 2007-2017

Benefit from analysts’ recommendations right now

Top up trading account

Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade

[ad_2]

Source link

قالب وردپرس



We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.



Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at agfab2013@gmail.com


Follow us on twitter @newsbeatportal

learn how to make profit from your losing bets on nairabet, bet9ja, merrybet, surebet. 07030635051
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535


Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.

Konga Verified Blogger

Leave a Reply