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EUR/USD and GBP/USD Forecast May 1, 2018

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Bitcoin markets did very little during the session on Monday, as we continue to grind sideways just below the $10,000 level. The $10,000 level is psychologically and structurally important, so it’s likely that we will continue to see this market struggled a breakout, and that short-term pullbacks could be opportunities to pick up value. However, I think if we break down below the $9000 level, we probably go to the $8000 level next, followed possibly by the $6000 level which is the bottom of the overall consolidation area that we have been in for some time. Ultimately, this is a market that I think is going to be very quiet, at least until we can get some type of momentum above the $10,000 level, offering a move to the $12,000 level. Longer-term, we need to break above the $12,000 level, in order to keep Bitcoin afloat. If we failed there again, it’s very likely that we will break down rather significantly longer term. Because of this, I think the next couple of months are going to be crucial for Bitcoin as well as many other crypto currency markets. for more analysis: http://www.dailyforex.com
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