The Most Important Support Zone for Bitcoin

The price broke SMA50 and now it falls to the most important zone. This zone is formed by SMA100 and a very strong 5000.00 support level. It will be the best point for a possible reversal. We can see the bearish market for at least 6 months on lower time frames and it should be changed by bullish period. It's the question of time.

If we use SMA100 as a signal line showing us the main trend, the weekly chart still is in the uptrend and we have a very deep correction. If the price breaks this support zone, we'll get a confirmation for the uptrend reversal. The market will be able to reach 3000.00 and even 1000.00 level after that. But do you believe in such falling?

We should be ready to see the price reversal from the support zone. The breakout above the downtrend line will give us a confirmation for further upward movement. The target levels will be at 8000.00 and 10000.00 at least. This variant of the market movement looks more realistic. RSI is not far from the oversold zone. MACD histogram will confirm the upward movement after any strong bullish candle. DMI does not confirm the strength of bears. It's a good time for a new bullish market after a long falling. Don't you think so?

Please, share your thoughts in comments! I will be grateful for your likes if you think this market overview is worth it.