Bitcoin: The Green Day - What Does It Mean?

Several days ago, the price broke the swing lows, which formed the local support zone. It gave us a new bearish signal and confirmation for the further downward movement. We got a strong bearish candle, which showed us that sellers could have the power to push the market lower. The next day after that passed in a narrow range, and it gave us a doji pattern. This candlestick pattern at a support zone could tell us about a possible reversal. Where is the support zone? It is the middle line of the descending price channel, which also acts as the support, and the market can provide us reversal signals here. The doji confirmed that sellers needed a break, or they did not have the strength to break the support. DMI indicator confirmed this statement.

Today we can see a huge bullish candle that confirms the price reversal from the middle line of the price channel. RSI confirms the price reversal and MACD is going to support the upward movement. Does this bullish candle have something solid behind based on fundamental reasons, or it is just a manipulated movement? I offer to discuss this in the comments below this post.

For starting a new uptrend, this zone is not so good as 6000.00 bottom, if we talk about the market using Technical Analysis. For confirmation of the strength of buyers, the price will have to break the downtrend line and move above 10 000.00 resistance. Without it, we can face one of correction movements in the bearish structure. The price action at the resistance zone formed by 9000.00 level and the downtrend line will tell us about the further market movement. But it looks like the downtrend will be continued at least up to the previous bottom. The support zone at 6000.00 still stays the perfect starting point for a new uptrend.