Bitcoin is currently residing above $3,600 area after an impulsive bullish pressure bouncing off the $3,360 support area recently. After breaking above the Triangle resistance with certain Bullish Divergence formation in place, the price managed to push higher above the event area of $3,500-600 with a daily close recently. The price is currently expected to consolidate and correct with certain bearish pressure along the way between the range of $3,500-600 area before it starts to push higher towards $4,000 in the coming days. As the price remains above $3,500, the impulsive bullish pressure is expected to continue further.
SUPPORT: 3,360, 3,500, 3,600
RESISTANCE: 4,000, 4,250
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.