At the moment Bitcoin has found some momentum from the 9.000($) and its following an uptrend line .
The price of Bitcoin is battling between the 11.700($) and the 9.000($) .
There are two possible scenarios for what the near future holds for Bitcoin .
Scenario 1:With the upcoming closing of the Market we can expect a drop ,looking both at the and we can see that this is very possible since both indicators show us signals.Having said that we could expect Bitcoin to reach the 9.000($) price tag.
Scenario 2:The price will continue to struggle between the resistance and until it finds some upward momentum.If it does the next will be at around 13.000($) where most likely it will force the price to move down.
Trading tactics:In both scenarios we have to wait for the and to give us a reversal signal in order to place our orders.
If scenario 1 happens we should wait for the price to bounce back from the and place our orders around the 10.000($)
If scenario 2 happens we should expect the price to break the and have our orders placed around the 12.000($)
In conclusion,right now the market is in a tricky situation and the best option we have is to let this one play out and wait for a clear signal to activate any orders.