Bitcoin has been quite impulsive with the bullish pressure recently which lead the price above 200 EMA recently. The price also breached above the dynamic levels of 20 EMA, Tenkan, Kijun, and Kumo Cloud as well which indicates further bullish momentum in the coming days. Bitcoin is still struggling to break above $4,000 area whereas a break with a daily close is expected to lead the price much higher towards $5,000 or higher in the coming days. As the price remains above $3,000 area with a daily close, the bullish bias is expected to continue.
SUPPORT: 3,000, 3,500, 3,600
RESISTANCE: 4,000, 4,250, 4,500
The material has been provided by InstaForex Company – www.instaforex.com
Source:: BITCOIN Analysis for January 2, 2019