FX.co ★ Bitcoin Analysis for December 26, 2017

Bitcoin has been quite bullish recently after bouncing off the $13,500 price area. As expected earlier Bitcoin is going to finish the year 2017 near 15,000 price area and as speculators assumption, it is expected to reach $20,000 by the first quarter of 2018. It seems like after the Christmas holiday the market has gained momentum again which lead the price of Bitcoin to surge much higher with an impulsive price action. Many speculators also assumed that this is the end of Bitcoin but as of the earlier challenges faced by Bitcoin like the Chinese boycott in the mid of the year, 2017 could not stop its growth whereas it made it more impulsive with the gains. So, this time it is expected quite same as well. As of the current scenario, the price is expected to range a bit between $15,000 to $16,600 price area before it shows any impulsive bullish pressure which would push the price towards $20,000 price area in the coming days. As the price remains above $13,000 price area the bullish bias is expected to continue further.