Bitcoin price resumes decline - Analysis - 09-02-2018

Bitcoin starts to rebound after testing the 8643.35 level in the last sessions. SMA 50 is a negative pressure against the pair while Stochastic is providing negative signals on the 4 hour time frame.

Therefore, these factors encourage us to continue with the bearishness in the coming sessions, noting that the next target is at 6036.30, while a breach of 8643.35 positive factor will lead the price to start attempts to recover and stop the losses suffered recently.

The trading range for today is among the support at 6000.00 and resistance at 9000.00

The general trend for today is bearish