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Bitcoin hits the waited target – Analysis - 02-02-2018
Bitcoin price succeeded to achieve our waited target at 8643.35 after the strong decline that it witnessed yesterday, starting today with more decline to break the mentioned level and attempts to hold below it, which hints the price head to suffer more losses on the short term and medium term basis, paving the way to head towards 6039.30 as a next main station.
Therefore, the bearish trend will be suggested in the upcoming sessions supported by the negative pressure formed by the EMA50, noting that breaching 9390.00 will release the price from the current negative pressure and push to start recovery attempts that target 10748.00 – 11160.00 areas initially.
Expected trading range for today is between 7500.00 support and 9390.00 resistance
Expected trend for today: Bearish
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