BITCOIN Analysis for September 03, 2018
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