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04.01.201911:01 Forex Analysis & Reviews: BITCOIN Analysis for January 4, 2019

Long-term review

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Bitcoin has been quite impulsive with the bearish price swings after rejecting the bulls off the $4,000 level recently. The price is currently residing at the edge of dynamic level 200 EMA and Kumo Cloud support. The consolidation and indecision in Bitcoin seem to continue further despite the overall bullish pressure. Though the price pushed lower quite strongly, this move is viewed as temporary inside the bullish bias. As the price remains above $3,000 area with a daily close, the upward momentum is expected to continue with certain corrections or pullbacks along the way with a target towards $4,000 and later towards $5,000 in the future.

SUPPORT: 3,000, 3,500, 3,600

RESISTANCE: 4,000, 4,250, 4,500, 5,000

BIAS: BULLISH

MOMENTUM: VOLATILE

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