Bitcoin price within positive pattern – Analysis - 17-09-2018

Bitcoin price’s recent trades are confined within bullish pennant pattern that appears on the chart, and the price needs to breach 6530.00 level to activate the positive effect of this pattern followed by rallying towards our waited target at 6880.00.

Therefore, we will continue to suggest the bullish trend that depends on holding above 6500.00, supported by stochastic and the EMA50 positivity, noting that breaking 6500.00 will push the price to decline again and head towards 6040.00 initially.

Expected trading range for today is between 6200.00 support and 7000.00 resistance

Expected trend for today: Bullish