Bitcoin has been quite bullish with the recent momentum which lead the price to reside at the edge of $6,400 area while having dynamic levels such as 20 EMA, Tenkan and Kijun line supporting it. The price has recently broke above the Kumo Cloud resistance while Chikou Span is also residing above the price line which indicates further bullish momentum in the coming days with target towards $6,500 area. Though the price is still quite volatile and corrective but as it remains above $6,000 area with a daily close, the bulliish bias is expected to continue to push the price higher in the process.
SUPPORT: 6000
RESISTANCE: 6500, 7000
BIAS: BULLISH
MOMENTUM: VOLATILE
The material has been provided by InstaForex Company – www.instaforex.com
Bitcoin has been quite bullish with the recent momentum which lead the price to reside at the edge of $6,400 area while having dynamic levels such as 20 EMA, Tenkan and Kijun line supporting it. The price has recently broke above the Kumo Cloud resistance while Chikou Span is also residing above the price line which indicates further bullish momentum in the coming days with target towards $6,500 area. Though the price is still quite volatile and corrective but as it remains above $6,000 area with a daily close, the bulliish bias is expected to continue to push the price higher in the process.
SUPPORT: 6000
RESISTANCE: 6500, 7000
BIAS: BULLISH
MOMENTUM: VOLATILE
The material has been provided by InstaForex Company – www.instaforex.com
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