Bitcoin: The Price Is At Important Support. What's Next?

We can see how the support zone, formed by SMA100 and 10 000 level, can hold the market. The price action in this zone is going to show us further market movements. If we get a reversal candlestick pattern, it will be possible to use it as a buy signal with a stop below the Low of the signal candle and the main profit target at the downtrend line.

If the price can break the support zone based on the daily timeframe, we should be ready to see a falling to 9000 level. This zone is also important for the market. Probably, we will see the 3rd attempt to break 9000, which can be successful. If so, the market will have the space for the falling up to SMA200.

Signals from Indicators
- RSI is bearish. The line is far from zones, and we should not expect to get a solid signal confirming the reversal.
- MACD lines provide a bearish signal.
- MACD histogram supports the downward movement. It is a bearish signal too.
- DMI is bearish, and ADX line is going to confirm the strength of bears.

Based on these signals we should expect the downward movement IF the support zone is broken and the market does not have fundamental support. Short term movement can be upward with the main target at the downtrend line.

Are you confused that we have to talk about 2 directions of the market movements? If yes, leave your questions below this post. LEt's make everything clear. Also, share your ideas - let's discuss!