Bitcoin is still quite indecisive and corrective above $8,500 price area. The price is expected to have a retest before the price proceeds higher towards $10,000 in the coming days. As the support of $8,500 has not been broken yet, the bulls are apparently quite strong with their momentum, reluctant to give in to the bears. There has not been any fundamental impact on the Bitcoin recently that is assumed as one of the main factors for such a corrective and volatile manner of trading. As for the current scenario, the price is being held by the Kumo Cloud as support which has slowed down the bearish momentum in a significant way. However, there are still probabilities of bearish pressure as the price is retesting the $8,500 area. Then if any rejection with a daily close is observed, further bullish pressure with a target towards $10,000 is expected. As the price remains above $8,500 with a daily close, the bullish bias is likely to continue further.
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