Bitcoin has been quite indecisive and low on liquidity today after the impulsive bearish pressure leading the price below $8,000 area with a daily close. Despite the recent bearish pressure, the bias is still bullish as the price is residing above a 50% retrace zone of a previous bullish move and also above $6,500 support area. The dynamic level of 20 Ema, Tenkan and Kijun line is currently holding the price as confluence support which is expected to lead to further bullish pressure in the coming days. As of the current scenario, the price is expected to push higher with a target towards $10,000 which is expected to inject impulsive momentum after $8,000 is taken out with a daily close. As the price remains above $6,500 area, the bullish bias is expected to continue further.
SUPPORT: 6,500, 7,500
RESISTANCE: 8,000, 10,000
BIAS: BULLISH
MOMENTUM: VOLATILE AND CORRECTIVE
