Bitcoin has been quite impulsive with the recent bullish momentum as expected which lead the price quite closer towards $4,000 area but that high was rejected. The price has recently broken above the dynamic level of 200 EMA having Tenkan, Kijun, 20 EMA, and Kumo cloud as support along the way. The price is currently expected to push higher towards $4,000 area. With a daily close above $4,000, the price is expected to climb impulsively higher towards $5,000 area in the future. As the price remains above $3,000 area with a daily close, the bullish bias is expected to continue.
SUPPORT: 3,000, 3,500, 3,600
RESISTANCE: 4,000, 4,250, 4,500
The material has been provided by InstaForex Company - www.instaforex.com