BITCOIN Analysis for November 2, 2018
Bitcoin has been quite impulsive with the bullish gains after bouncing off the $6,200 area recently. The price is currently being held by the dynamic levels like 20 EMA, Tenkan, and Kijun line as support. Because such solid support, the price is likely to jump much higher towards $6,500 area. Breaking above Kumo Cloud and Chikou Span and moving higher above the trend line indicate further bullish pressure in the coming days. As the price remains above $6,000 area with a daily close, the bullish bias is expected to continue with a target towards $6,500 and later towards $7,500.
MOMENTUM: IMPULSIVE and NON-VOLATILE