Bitcoin at support, if this support holds next target is 11.500.

We have Bitcoin for some time now pushing up, and stays above the levels of 8900 and 9000 as former resistance levels turned in support levels now. Today the price revisited the 9000 and went just below it, it holds now in the price range of the mentioned support levels and if it persist to be above 8900 and 9000 we can see the price moving up again and going towards 11.500. The level of 11.500 is important as resistance and it is a level where the price will close a cycle movement that mirrors the fall in price from previous weeks. We should not forget the bears are appearing strong above 9000 and it has been shown today with the move below 9000 and the negative volume we get. It is positive to see that the price went above 9000 after some time, bulls should be strong in the levels below 8900, and we will see a fight bulls vs bears now as we are at the levels of strong clash.

The verdict: monitor the levels 8900 and 9000, watch the volume and cycle movement, buy if price holds above 9000 for the next 3-4 days and no big disruptions are in place, target 11.500. Caution at any time, don`t rush with your decision and be careful with analyses and signals that are selling you a fairy tale, if it is too good to be true at the end it probably is. Good luck.

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Comment:

Bitcoin pops up back above the 9000 level. From here on if price stays above we can expect to move closer to 11.500.