Bitcoin: What's New?

The price broke the resistance zone formed by SMA100, SMA200, and 8000.00USD resistance. If the close price of the daily candle is above 8000.00USD, the market will give us a bullish signal. The next target for buyers will be the main downtrend line at 9200.00USD where we will be able to see a reversal and a pullback ti 8000.00USD and the local uptrend line as well as to SMAs.

Of course, we should not be surprised if the market gives us a fake breakout. It will be a possible option with the downside movement to 7200.00USD.

MACD lines and histograms give bullish signals, and DMI tells us that buyers are strong.



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:

Do you know what's this? It is a reversal candlestick pattern at the main downtrend line. What does it mean? The market tells us about a possible pullback from the downtrend line. The support zone at 8000USD looks good as a target.