Bitcoin price attempts positively – Analysis - 05-11-2019

Bitcoin price provided clear positive trades yesterday to breach 9255.00 level and settles above it, to hint potential recovery attempts on the intraday basis, but we notice that stochastic shows clear negative signals now, to support the chances of turning back to decline again.

Therefore, we suggest witnessing negative trades today, and the price needs to break 9255.00 to confirm resuming the bearish trend that its first target located at 8880.00, taking into consideration that breaching 9720.00 will stop the negative scenario and lead the price to turn to rise.

The expected trading range for today is between 9000.00 support and 9700.00 resistance

The expected trend for today: Bearish