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Bitcoin is currently struggling to get a daily close over the $4,000.00 resistance level after the bounce off recently. The $4,000.00 level is very important in a psychological point of view for the investors and traders and breaking above this level is expected to provide extra confidence to market participants to understand the bias to trade the market. After Initial Coin Offering in China was cancelled, JP Morgan CEO termed Bitcoin as unreliable and a number of regulators are questioning its existing. The Bitcoin bounced off to prove that it has still remarkable things to offer traders in the market. Today, the market sentiment was quite corrective in nature but at the current situation bulls are showing some strength to push over the $4,000.00 level with a daily close. If we see a daily close above $4,000.00 level, then we will be looking forward to buy with target towards $4,386.80 and later towards $4,500.00 level. As the price remains above the Kumo Cloud, the bullish bias is expected to continue further.
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