Bitcoin: Market Review with Targets for Buyers and Sellers
Let's talk about Bitcoin, what's new?
The price could break 9000.00 round number and reach 9175.00 resistance. We got a local swing high, which can be used as a signal level.
If the price bounces from 9000.00 and breaks this swing high, it will be a bullish signal with the main target at 10 000.00 level. I'm not sure that this variant is so reliable. We can see that RSI confirms the price reversal. MACD histogram supports the further downward movement.
If the price breaks 9000.00 support, it will be a bearish signal confirming the downward movement. I think this variant looks more interesting.
If the price bounces from the resistance zone between 9175.00 and 9000.00 levels, sellers will have targets at SMA100 and SMA200. In order to keep the bullish structure, it will be good to stay above SMA100. The reversal signals from this line will be good for buying and a new upward movement in the direction of the main uptrend.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The price could break 9000.00 round number and reach 9175.00 resistance. We got a local swing high, which can be used as a signal level.
If the price bounces from 9000.00 and breaks this swing high, it will be a bullish signal with the main target at 10 000.00 level. I'm not sure that this variant is so reliable. We can see that RSI confirms the price reversal. MACD histogram supports the further downward movement.
If the price breaks 9000.00 support, it will be a bearish signal confirming the downward movement. I think this variant looks more interesting.
If the price bounces from the resistance zone between 9175.00 and 9000.00 levels, sellers will have targets at SMA100 and SMA200. In order to keep the bullish structure, it will be good to stay above SMA100. The reversal signals from this line will be good for buying and a new upward movement in the direction of the main uptrend.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Disclaimer
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