Bitcoin attacks the support – Analysis - 23-01-2018

Bitcoin price faced clear negative trading in the previous sessions after failing to breach 12852.00 level, to push on 10748.00 level and moves below it now, which hints continuing the decline within the bearish channel that appears on the above chart and stopping the recently suggested positive scenario.

Therefore, the bearish bias will be suggested in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that our next target is located at 8643.00, while breaching 10748.00 followed by 11160.00 levels represents the key to stop the expected decline and rallying to achieve gains again.

Expected trading range for today is between 9000.00 support and 11160.00 resistance

Expected trend for today: Bearish