Bitcoin has been breaking several records for the last few days and is currently residing above the record high price of $14,800. Bitcoin is expected to be quite corrective with the gains before the launch of Bitcoin futures on 10th and 18th December but before that price has acted quite impulsively with the gains which can result in a certain retracement in the coming days. The price has already moved over $1,700 so far by the last daily candle formation but it indicates further bearish pressure may emerge in the coming days as the price is progressing higher towards $15,000 price area. As of the current scenario, Bearish Continuing Divergence has formed showing a decrease in volumes as the price is moving higher. RSI, Stochastic, and MACD Histogram are indicating an upcoming bearish move which is expected to push the price lower towards $12,500 after a certain bullish pressure higher. The price level $15,000 is a psychological level and a rejection off the level is expected to validate the Bearish Divergence and have impulsive bearish pressure in the coming days.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Performed by Rocky Yaman,
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
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 email@example.com
Follow us on twitter @newsbeatportal
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.