Bitcoin has been quite volatile recently but today it showed some bullish momentum taking the price higher above $14,000 price area after bouncing off the $13,000 support area. Though the bearish bias is still quite intact as the price has found a good support at $13,000 price area, this does indicate further bullish momentum is on the way. The market is currently in an indecisive phase, due to the recent South Korean issue where the decision of closing down the exchanges is still pending. Moreover, the introduction of the new investors and speculators in the market due to Bitcoin Futures trading made it more competitive than ever before which had a direct impact on the gains of the Cryptocurrency. As of the current scenario, the price is being held by the Kumo Cloud resistance after bouncing off the $13,000 support area. The price is expected to correct itself for a while until it breaks above $15,500 price level on the upside or $13,000 price area on the downside, to provide definite trend move in the coming days. As the price remains above $13,000 price area, the bullish bias is expected to continue further.
