Bitcoin has been quite impulsive amid the bearish pressure recently that pushed the price below $5,000 area with a daily close. Today the price managed to bounce back above $4,500 area which indicates a retracement towards $5,000-5,500 area before moving much lower in the coming days. The impulsive bearish pressure is expected to continue, pushing the price much lower with certain volatility, whereas the price may reject off the dynamic levels like 20 EMA, Tenkan, and Kijun line as well. As the price remains below $6,000 area, the bearish bias is expected to continue further.
SUPPORT: 4,000, 4,500
RESISTANCE: 5,000, 5,500, 6,000
BIAS: BEARISH
MOMENTUM: VOLATILE
