FX.co ★ BITCOIN Analysis for June 1, 2018

Bitcoin has been correcting itself below $8,000 price area for a few days which is expected to push higher above $8000 with target towards $10,000 in the coming days. Today the price has been quite impulsive with the bearish after having a daily close with bullish engulfing candle yesterday. The market seems to be indecisive about the recent rumors about certain investigation going on for the Bitcoin transactions which scared off some market participants. Though there has been no news about big investors taking out their fund from the Bitcoin and Crypto market, so there are still chances for the bulls to dominate further in the coming days. As the price remains above $7,000 area, the bullish bias is expected to continue.