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Bitcoin Intraday Analysis May 16, 2018: Strong Upside Correction in Bearish Bias

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Published on May 16, 2018

Bitcoin is now attempting a strong bounce back after establishing 8104 fiat as the intraday low. As usual, the pair is now below the 50, 100 and 200-hour moving average curves, and the RSI is trying to break above 60. These indicators point to a neutral sentiment in near-term. But of course, if this bullish correction extends, we are definitely looking to retest 9000 fiat in a long run.

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