Bitcoin analysis for September 5, 2018

Bitcoin has been quite impulsive with the bearish counter momentum today which did engulf a series of previous bullish momentum but currently it is held by the dynamic level of 20 EMA and Kumo Cloud support. Ahead of the high impact USD economic reports this week, certain volatility is expected. As of the current scenario, the dynamic level 20 EMA has managed to hold the price as support, whereas the Kijun Line is also expected to provide a strong support above $6,500 area. Therefore, the bullish bias is expected to continue further with target towards $8000-8500 area in the coming days.

SUPPORT: 6000, 6500

RESISTANCE: 7500, 8000, 10000




The material has been provided by InstaForex Company -