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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Bitcoin analysis for September 21, 2018

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Recently, Bitcoin has been trading upwards. The price tested the level of $6.707. According to the H1 time – frame, I found the strong upward momentum and the breakout of key resistance at the price of $6.500. I also found that rising trendline in the background and my advice is to watch for potential pullback to buy. The upward targets are set at the price of $6.855 (Fibonacci expansion 161.8%) and at the price of $7.000. The area from $6.855 and $7.000 is also a strong distribution zone.

Blue line – expected price path

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com