Bitcoin has bounced above the $8,500 price area with a bullish impulsive momentum recently as expected. The retracement after the impulsive bullish trend from $6,500 is currently being completed whereas the bulls are now entering the market again. Market participants are quite optimistic about prospects of the Crypto trading, citing that famous companies and big names like George Soros have been investing in Bitcoin recently. The updated features of Bitcoin with the fastest transaction and lower costs attracted more buyers in the market as well. As for the current scenario, the price is residing above $8,500 with a daily close whereas the Kumo Cloud is still holding the price inside it and expected to push the price much higher towards $10,000 in the coming days. As the price remains above $8,000-8,500 area, further bullish pressure is expected.
