Bitcoin sank below $3,500 amid strong bearish momentum today which has cleared the impulsive bullish bias by some extent. Currently the price is expected to dive much lower in the coming days. Bitcoin is currently trading firmly below $3,500 on the intraday charts while being held by the dynamic level of 20 EMA, Tenkan, and Kijun line as support. The Chikou span is also holding below the price line which also signals the bearish pressure in the market. Currently the price is consolidating below $3,500 area which is expected to result in a certain pullback towards the $3,500 area for a retest before it continues with the bearish momentum with a target towards $3,000 support area.
SUPPORT: 3,000, 3,250
RESISTANCE: 3,500, 3,600, 4,000
BIAS: BEARISH
MOMENTUM: VOLATILE
