Bitcoin has been quite volatile and indecisive recently. The price pushed higher as per Bullish Divergences spotted earlier but it bounced off the $6,500 area again and now proceeding with strong bearish momentum proceeding lower. The bearish candle has already engulfed the previous bullish corrections below $6,500 area with rejection off the $6500 area. The dynamic levels including 20 EMA, Tenkan and Kijun is currently working as support while being above the Kumo Cloud. Though certain bearish pressure for a certain period of time is expected but as the price remains above $6,000 area and also the dynamic levels especially the Kumo Cloud, the price is expected to push higher and create new highs with target towards $7,500 and later towards $8,000 area in the future.
SUPPORT: 6,000
RESISTANCE: 6,500, 7,500
BIAS: BULLISH
MOMENTUM: VOLATILE
