Bitcoin has been quite volatile at the edge of $4,250 area from where the price is currently starting to push higher by breaching above 200 EMA. The price is currently being held by the dynamic levels of 20 EMA, Tenkan, and Kijun line which indicates further bullish pressure which might lead the price towards $4,500 and later towards $5,000 area in the coming days. Additionally, Kumo Cloud has been quite wider with a bullish aspect which also suggests further bullish momentum in the nearest days. As the price remains above $4,250 area with a daily close, further bullish pressure is expected in the coming days.
SUPPORT: 3,500, 4,000, 4,250
RESISTANCE: 4,500, 5,000
The material has been provided by InstaForex Company - www.instaforex.com