BITCOIN has been quite impressive with the recent bullish momentum which has proved quite strong without any deeper pullback along the way. Though the price is currently a bit bearish but having certain non-volatile bullish pressure in place, any bearish pullback will be labelled as a retracement throughout the process. As for the current scenario, the price is residing above $7,000 area with a daily close, just at the edge of Kumo Cloud resistance from where a certain pullback towards the dynamic level of 20 EMA, Tenkan and Kijun line is expected before the price starts to push higher towards $8,000 area. As the price remains above $6,000 area with a daily close, the bullish bias is expected to continue.
SUPPORT: 6,000, 6,500
RESISTANCE: 7,500, 8,000, 10,000
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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