Bitcoin has been quite bearish recently after being rejecting the bulls off the $9,500 price area before hitting the psychological price area of $10,000. The bearish pressure was quite as expected having the Bearish Continuation Divergence in place while the price was impulsive with its bullish momentum along the way. The price is currently being corrected before launching higher with a bounce off the $8,500 price area in the coming days. Though the price action may seem quite choppy and corrective along the way towards $10,000 but the bullish pressure is expected to push the price higher once the correction completes soon. As of the current scenario, the price is currently residing inside the Kumo Cloud support area from where the price is expected to correct for a certain period before it pushes up higher towards $10,000 in the future. As the price remains above $8,500 with a daily close, the bullish pressure is expected to continue.
