Bitcoin: 9000.00 Becomes the Real Target

The price broke the local uptrend line. The price could not move above 10000.00 ket resistance. RSI and MACD histogram support the price reversal and a further downward movement. MACD supports sellers as well. DMI is bullish, but ADX line falls, and it tells us that buyers are not so strong.

All these signals are bearish. They support the downward movement with the main target at 9000.00 and SMA200. It is the main support zone where the market can be stopped and reversed. It means that the support zone and reversal signals from it should be used for buying.

Of course, the price can bounce from 9500.00 support. But from my point of view, it is not so interesting for sellers, and they will be able to move the price to 9000.00 support.

What about your ideas when to buy Bitcoin? Share your thoughts and ideas in comments!



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.