Bitcoin: Watch for the Price Action at the Important Resistance
The price is at the resistance zone formed by SMA100, 10000.00, and the main line of the descending price channel.
If the price bounces from this zone, we will see a new downward movement in the borders of the price channel. The breakout from the price channel will confirm a further upward movement. It is possible to use the breakout as a buy signal with stop orders below SMA100.
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.
If the price bounces from this zone, we will see a new downward movement in the borders of the price channel. The breakout from the price channel will confirm a further upward movement. It is possible to use the breakout as a buy signal with stop orders below SMA100.
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.
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Probably, we will see a new attempt to move above 10 000.00 within 1-2 days.