BITCOIN Analysis for April 25, 2018

Bitcoin has been impulsively bullish consistently for certain period which helped the price to bounce off from $6,500 to $9,500 by today. Currently, the price is showing impulsive bullish rejection whereas certain bearish pressure is expected as a form of retracement along the way. The price is currently residing at the edge of $9300 from where certain bearish pressure towards $8,500-$9,000 area where the Kumo Cloud support area also lies is expected to be retested before the price proceeds higher in the coming days. As there has not been any major fundamental impact in the market, the sustainability of the bulls is still quite strong. As of the current scenario, the price is expected to retrace for a certain period before its continues its bullish trend with the target towards $10,000 and later towards $11,500 in the future. As the price remains above $8,500 area, the bullish bias is expected to continue.

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