The analysis of Bitcoin for the 23rd of October 2017

The Bitcoin has recently reached the $6,000 of the resistance area and bounced back on the box with the upward trend of rejection and a daily close below it. Before Bitcoin, divided in November, the price has rebounded from $6,000 price level as expected. Although there are some restrictions on Bitcoin trading in progress in a few countries, which has affected the growth of Bitcoin earlier, but currently it has soon good recover and reached all-time high, which signal that the Bitcoin is strong enough to create more high in the future. Currently the price is residing below 6 000 $to the resistance zone and after a strong impulsive rejection off the level of the last week and a new test today, it is currently expected that the price will be consolidating and may show some downward pressure to $5,000 in support of the zone before it launches much higher in the future. As the current scenario, the price is expected to consolidate and show a certain downward pressure until Bitcoin Split is happening, and after that we will have a good amount of positive push to buy Bitcoin again.

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