Bitcoin has been strongly impulsive amid the recent bearish pressure which lead the price below $5,000 area with a daily close. The price pushed much lower today which bounced off the $4,500 area and is currently moving higher indicating further bullish pressure in the coming days. The dynamic level of 20 EMA is residing quite far away from the current price area which is expected to attract certain bulls to meet the mean before it continues with the bearish trend momentum in the future. Currently the price is expected to push higher above the area from $5,000 to $5,500 before it continues to show some bearish pressure in the future. As the price remains below $6,000 area with a daily close, the bearish bias is expected to continue further.
SUPPORT: 4,000, 4,500
RESISTANCE: 5,000, 5,500, 6,000
BIAS: BEARISH
MOMENTUM: IMPULSIVE
