The price of bitcoin is decreasing again - analysis - 05-12-2018
The bitcoin price is below the neckline of the double top pattern, supporting our bearish outlook for the coming period, supported by the negative pressure formed by SMA 50, awaiting a move towards 3475.00 which is our next main target.
Stability below 4150.00 is important for the continuation of the expected decline, as breaching it will push the price to start recovery attempts targeting 4500.00 zones and then 5000.00 initially.
The trading range for today is among the support at 3400.00 and resistance at 4000.00
The general trend for today is bearish
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