Target $9600
The price of BTCUSD bounced off the 200-day moving average today as the MA converged somewhat with the 9k resistance level. I expect BTC should break through this resistance for a while and hit $9600 but as the price approaches the $9600 level, the downtrending resistance will cause the price to rally down thereafter. I'm about 70% confident that BTC will reach $9600. RSI on the 1D is also currently 45.8 but needs to reach 55 - 57 before it's time to sell... This will happen at $9600.
The other option is that BTC does not manage to make it out of the $9100 are and the bulls will not have provided enough confidence in the market. Prices could plummet.
The other option is that BTC does not manage to make it out of the $9100 are and the bulls will not have provided enough confidence in the market. Prices could plummet.
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