BITCOIN Analysis for November 26, 2018

After a drastic fall towards $3,550 area recently, Bitcoin has managed to push higher at the edge of $4,000 area today which is currently being held by the Kumo Cloud as dynamic resistance. The price is currently correcting itself at the edge of $4,000 area. A break above $4,000 will also lead to a break above the Kumo Cloud. On the other hand, dynamic levels like 20 EMA, Tenkan and Kijun line as support could lead the price towards $4,500 area in the coming days. The Chikou Span breaking above the price line also indicates further bullish pressure in the coming days. MACD sends no sign of bearish divergence to increase the probability of further bullish gains. As the price remains above $3,500 area with a daily close, further bullish pressure is expected despite being inside a strong bearish trend.

SUPPORT: 3,000, 3,500

RESISTANCE: 4,000, 4,500

BIAS: BEARISH

MOMENTUM: VOLATILE

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