CryptoMichNL

Bitcoin ready for retest of $9,400 before move towards $11,000?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
NOTHING GOES UP IN A STRAIGHT LINE.

Wow, no shit Sherlock.

But what can we expect from Bitcoin? I think we’re in for some weeks of relative calm movements in which Bitcoin accumulates back again on a higher level, before it continues to move towards the next resistance.

The $10,000 couldn’t provide substantial support and the move is a bit overextended in my belief.

Through that I’m targeting the following levels as main long zones; $9,300 and $9,000. If these areas hold for support, then I’m thinking we’re going to see continuation to the upside, targeting $11,000 and $12,000.

I don’t think it would be bullish for the market if we drop below $9,000 as that would make a new lower low (the last higher low is sustained at $9,000).

So, there’s no reason to be bearish at all, retracements are healthy and should provide a nice buy the dip opportunity.

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Great Bro, we got same area :
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