However, with the 50-day flat and the 20-day falling marginally, the immediate support of $7760 should hold. If it does, a move back to $10,000 is likely. A break out above $10,000 will invalidate the . A failure of a is a sign. Therefore, above $10,000 a rally to $12,000 should be on the cards.
It is better to wait for the supports at $7760 to show ample buying before entering a long position in Bitcoin .