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Bitcoin managed to sustain the bullish non-volatile momentum along the way which allowed the price to reside above the $6300 area recently.
Bitcoin has not dropped below $6k since breaching the psychological barrier in early trading. Bitcoin has pushed on a further 3 percent today. Due to the big move, BTC volume surged up to $18 billion and the market cap over $110 billion. Bitcoin firms now at a 17-month high of 58 percent, a level which has not been seen since the big surge at the end of 2017.
The price is currently sliding down with certain bearish pressure, while forming Bearish Regular Divergence in MACD indicator. The bullish trend and the indicator above $6300 area might signal for further upward pressure. However, with a certain divergence emerging in the pair, the price is expected to push lower towards $6300 area again. The dynamic level of 20 EMA is expected to work as support and push the price higher towards $6500 area in the coming days.
As the price remains above $6000 area with a daily close, the impulsive non-volatile bullish momentum is expected to continue further.
SUPPORT: 6000, 6150, 6300
RESISTANCE: 6500, 6750, 6850
BIAS: BULLISH
MOMENTUM: NON-VOLATILE
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