Bitcoin rejected off the $3,500 with strong bearish pressure which pushed the price towards $3,450. The price is currently residing at the edge of Kumo Cloud support from where it has a greater probability to push higher as per recent proceeding higher swing lows, having confluence as support to climb upwards in the coming days. Until the price remains above the Kumo cloud i.e. $3,400 with a daily close, there is a probability of a further upward move with a break above $3,500. The price can proceed higher towards $4,000 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, 3,250
RESISTANCE: 3,500, 3,600, 4,000
The material has been provided by InstaForex Company - www.instaforex.com