Bitcoin is currently residing above $3,400 area after rejecting off the $3,500 area recently under impulsive bearish pressure. The price is currently being held by the dynamic levels of resistance including 20 EMA, Tenkan, and Kijun line while residing inside the Kumo Cloud that is expected to lead to certain bullish pressure towards $3,500 area before carrying on with the bearish trend in the coming days. As the price remains below $3,500-600 area with a daily close, the bearish bias is expected to continue in the future.
SUPPORT: 3,000, 3,350
RESISTANCE: 3,500, 3,600
BIAS: BEARISH
MOMENTUM: VOLATILE
The material has been provided by InstaForex Company – www.instaforex.com
Bitcoin is currently residing above $3,400 area after rejecting off the $3,500 area recently under impulsive bearish pressure. The price is currently being held by the dynamic levels of resistance including 20 EMA, Tenkan, and Kijun line while residing inside the Kumo Cloud that is expected to lead to certain bullish pressure towards $3,500 area before carrying on with the bearish trend in the coming days. As the price remains below $3,500-600 area with a daily close, the bearish bias is expected to continue in the future.
SUPPORT: 3,000, 3,350
RESISTANCE: 3,500, 3,600
BIAS: BEARISH
MOMENTUM: VOLATILE
The material has been provided by InstaForex Company – www.instaforex.com
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