Bitcoin: The Halving Is Coming

The price broke the upper line of the triangle and moved upside. As we could expect, the target for buyers had to be the main downtrend line. The target was reached, and we can see a consolidation below the downtrend line. RSI, MACD, and DMI don't give us bullish signals which could support a possible breakout. Probably, the price will move back to SMAs, and we will see a new attempt to pass through the downtrend line.

If the price tries to break the line without a pullback, but after the consolidation movement, we will be able to a short term upside move to 10 000USD as the main target for buyers after the breakout.
The Halving is coming, and of course, it can support the demand for Bitcoin.



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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:

10 000.00USD target was reached! Good bullish signal!