Bitcoin price suffers sharp losses – Analysis - 15-11-2018

Bitcoin price declined sharply yesterday to surpass our negative targets mentioned in our recent reports at 6040.00 and 5880.00, and it settles around 5500.00 now, after approaching 5300.00 barrier yesterday, which hints that the price faces more negative pressure on the intraday and short term basis, and the way is open to record more negative targets, waiting to visit 5000.00 as a next main station.

Therefore, the bearish trend will remain dominant in the upcoming period unless breaching 6040.00 level and holding above it.

Expected trading range for today is between 5000.00 support and 5800.00 resistance

Expected trend for today: Bearish