#BITCOIN - Where to Catch LONG?

Key level is $10025.

If we breakout above, bulls would take control. If we breakdown below, bears would take control.

Currently the price stays below the level, so priority is downward, but bulls are still trying to drag the price above. However, this is the situation when it is better not to SHORT, but wait for a better LONG entry.

Here are two ways of entering LONG:
1. Place limit order on the level breakout, which opens you the position if the price confidently breaks the level. $10080 - $10100 can be considered as a trigger level.
2. Wait any reversal signs below the current price level. Strong support is $9800, so you can place buy orders in the zone of $9750 - $9850. However, this option is weaker than the first one. Reason - mentioned support didn't show its strength and at the moment we don't have any reversal signs.

Anyway, all purchases are in priority, don't be afraid of buying high.

Comment:

It looks like BTC price has reached the local low and is ready to rock again. There are plenty of reasons for the uptrend continuation:
1. Double bottom on 11th and 17th of February
2. Local double bottom today
3. 1-5 downward Elliott wave
Also we have a strong possible consolidation channel between $9615 and $10025, where traders will fill their longs before the pump.
The priority is upward (reversal). However, keep your eyes on $9615 level: if it's broken, BTC may dump hard.

Comment:

The level was broken, but then the price rapidly went back above. Looks like a fake breakdown (long squeeze). Previous update remains actual.

Comment:

The price of Bitcoin is already inside the horizontal channel and now testing the support of $9615 - $9700. We can also see that the asset has formed an upward wave and now a small correctional one. Now we expect an upward movement to $9900 - $9950.

If we see a decline below the $9615 again, we would consider this channel as "broken" and invalid. Then, we will expect the price to hit $9100. But now the priority is upwards.