Bitcoin has been quite impulsive with the bullish gains which lead the price to impulsively break above $6,500 area while also being supported by the dynamic levels of 20 EMA, Tenkan and Kijun line in the price. The price breaking above the Kumo Cloud resistance while also breaking above the $6,500 area, provided the required momentum to push higher impulsively in the process. As the price remains above $6,500 while also being supported by the dynamic levels, the bullish bias is expected to continue with the target towards $7,500 and later towards $8,000 area in the coming days.
SUPPORT: 6,500
RESISTANCE: 7,500, 8,000
BIAS: BULLISH
MOMENTUM: IMPULSIVE
The material has been provided by InstaForex Company – www.instaforex.com
Bitcoin has been quite impulsive with the bullish gains which lead the price to impulsively break above $6,500 area while also being supported by the dynamic levels of 20 EMA, Tenkan and Kijun line in the price. The price breaking above the Kumo Cloud resistance while also breaking above the $6,500 area, provided the required momentum to push higher impulsively in the process. As the price remains above $6,500 while also being supported by the dynamic levels, the bullish bias is expected to continue with the target towards $7,500 and later towards $8,000 area in the coming days.
SUPPORT: 6,500
RESISTANCE: 7,500, 8,000
BIAS: BULLISH
MOMENTUM: IMPULSIVE
The material has been provided by InstaForex Company – www.instaforex.com
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