Bitcoin has been consolidating at the edge of $4,000 area after being in a non-volatile bullish trend since the price bounced off the $3,500-600 support area earlier. While the price started consolidating at the edge of $4,000, Bearish Divergence was formed. BTC price is expected to move lower inside the dynamic support area of Kumo Cloud before pushing higher above $4,000 in the coming days. The consolidation and indecision at the edge of $4,000 also indicates that the bulls are currently testing their limits while the bears try to insist on the downward bias. A daily close above $4,000 will lead to further impulsive pressure with a target towards $4,250 and later towards $4,500 area in the future.
SUPPORT: 3,500, 3,600
RESISTANCE: 4,000, 4,250
BIAS: BULLISH
MOMENTUM: VOLATILE
