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04.10.2018 06:28 PM
BITCOIN Analysis for October 4, 2018

Bitcoin has been extremely volatile and indecisive recently while pushing the price higher above $6,500 with an impulsive pressure recently labeling the price action below $6,500 earlier as a false break. The price has been quite volatile and indecisive earlier whereas recently due to a break above $6б500 while also having a Dynamic levels cross of 20 EMA, Tenkan and Kijun lines, the bullish momentum is currently quite strong. The price has retraced a bit throughout the day but remaining above Kumo Cloud and is supported by the dynamic levels above $6,500. It is an indication of further bullish pressure with a target towards $7,500 and later towards $8,000 area in the future. As the price remains above $6,000-6,500 area, the bullish bias is expected to continue.

SUPPORT: 6,000, 6,500

RESISTANCE: 7,500, 8,000

BIAS: BULLISH

MOMENTUM: VOLATILE

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