Let's talk about Bitcoin, which is trying to increase the value, but this attempt does not look like a successful one.
The price could stay above the broken downtrend line, which was also supported by SMA100 in the 4H timeframe. It was good, and the buyers got the basis for a new upside movement. They could push the price to 10 000USD, and we got a reversal. It looks like we have a solid resistance zone at this round number. We will probably see a pullback to SMA100 again and a new attempt to pass through 10000USD. Will it a successful attempt? If you have a Crystal Ball, you can know the answer. As for other traders, we need to watch for the price action at the resistance and wait for the exact signals from the market.
How to trade? I'm not sure that the breakout above the resistance will be a good buy signal. Maybe for long term traders who build long positions, it can be an option. For swing traders, I think it will be better to wait for a pullback to SMA100, the uptrend line, and open long positions based on reversal signals.
If you hate the buyers, the bulls, and "to the Moon", you should wait for the breakout below the uptrend line and SMA200. If the price can pass through these support lines, we will get a bearish market with the nearest target at 8000USD and other targets at 7500USD and 6000USD.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
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.
The price could stay above the broken downtrend line, which was also supported by SMA100 in the 4H timeframe. It was good, and the buyers got the basis for a new upside movement. They could push the price to 10 000USD, and we got a reversal. It looks like we have a solid resistance zone at this round number. We will probably see a pullback to SMA100 again and a new attempt to pass through 10000USD. Will it a successful attempt? If you have a Crystal Ball, you can know the answer. As for other traders, we need to watch for the price action at the resistance and wait for the exact signals from the market.
How to trade? I'm not sure that the breakout above the resistance will be a good buy signal. Maybe for long term traders who build long positions, it can be an option. For swing traders, I think it will be better to wait for a pullback to SMA100, the uptrend line, and open long positions based on reversal signals.
If you hate the buyers, the bulls, and "to the Moon", you should wait for the breakout below the uptrend line and SMA200. If the price can pass through these support lines, we will get a bearish market with the nearest target at 8000USD and other targets at 7500USD and 6000USD.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
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.
Comment:
The price is consolidating below the resistance zone. Probably we will see a sideways movement between 10 000USD and the broken downtrend line. After that, a breakout and a strong movement upside or downside.
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