Bitcoin managed to climb higher above $3,400 price area after drastic impulsive bearish pressure had pushed the price lower recently. The price is being held by the Kumo Cloud and Tenkan line as resistance which is expected to lead to further bearish pressure after certain corrections along the way. The price bounced back with a V-shaped counter which signals strong bullish momentum in the bearish trend which may lead to certain variations and corrections in the upcoming price action. As the price remains below $3,500 area with a daily close, the bearish bias is expected to continue further in the coming days with a target towards $3,000 support area.
SUPPORT: 2,850, 3,000
RESISTANCE: 3,500, 3,600, 4,000
BIAS: BEARISH
MOMENTUM: VOLATILE
