$BITCOIN - Considering Mid-Term View!

In this idea, we are going to consider $BTCUSD in mid-term vision. What options of price behaviour we have and how can we cope with them to stay in profit. Even though the dump from $13000 was quite obvious, as there was a huge divergence, the current market situation is not such clear.

When we look at the 1H - 4H timeframes we can see a sharp growth, the price breaks resistances one by one because of which this week was absolutely green. To absorb the previous red week we need to break the last resistance which is located at the $10650 level. In case this resistance will be broken - the price can freely go upward up to $12000 level. To be honest, this growth on 1W chart is very similar to the 2017 pump to $20000. We can't call this growth natural and healthy, but we can do nothing with it. The most important thing now is to understand where the growth will end and where it WON'T end.

Let's start with the strongest support level which has shown its powers many times before — $8900 - $9100. In the future, this level will become a "mirror" one. In case it will be broken, the price will go further downward in order to find the next strong support. More likely, it will be ±$7000 level. There we will see a finish of the ABC correction. Btw, I want to mention that we can't fall lower than $6500, because it is the strongest global market support. Taking into account abnormal buy volumes which come into market now we can conclude that no one will sell below $6500. Therefore, in case the 1W candle will close below $8900 level, you can confidently sell and buy back in the $7000 area.

As I've already told, in case the price will break through the $10650 resistance, we can expect one to reach $12000 - $13000 zone very soon. I want to mention one important level there: if the $BTC price reaches mentioned zones and doesn't want to come back, it would be a very bullish sign - signal for buying, as it would show us that bulls are much stronger than bears.

Thus, we have two thesis:

• 1. Breakdown of the $8900 support - SELL signal. Buy back in the $7000 zone.
  
• 2. Breakout of the $10650 resistance and closure 1W candle above - BUY signal. Then hold until $12000 - $13000 resistance and observe price behaviour.
  

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