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03.09.201812:29 Forex Analysis & Reviews: BITCOIN Analysis for September 03, 2018

Long-term review

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BITCOIN has been quite impressive with the recent bullish momentum which has proved quite strong without any deeper pullback along the way. Though the price is currently a bit bearish but having certain non-volatile bullish pressure in place, any bearish pullback will be labelled as a retracement throughout the process. As for the current scenario, the price is residing above $7,000 area with a daily close, just at the edge of Kumo Cloud resistance from where a certain pullback towards the dynamic level of 20 EMA, Tenkan and Kijun line is expected before the price starts to push higher towards $8,000 area. As the price remains above $6,000 area with a daily close, the bullish bias is expected to continue.

SUPPORT: 6,000, 6,500

RESISTANCE: 7,500, 8,000, 10,000

BIAS: BULLISH

MOMENTUM: NON-VOLATILE

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