Bitcoin 10000 Key Resistance Level

We had a bullish divergence, a price reversal from 6500.00 level and a good upward movement with breaking above SMA100. Now the price is at the strong psychological 10000.00 level. The price action in this zone will show furter market movements. The breakout above this key level will give a good confirmation for further upward movement to the previous highs at 12000.00 and 17000.00 levels. It will support the buyers and give us opportunity to open buy trades for long run. MACD supports the upward movement. DMI is bullish and ADX line rises confirming trend market conditions and the strength of the price movement. Buy trades can be opened based on a breakout signal above 10000.00 key level or after a correction based on a reversal signal.

Alternative variant: the price can reverse from 10000.00 and move lower. But probably it will be a short term falling up to a support zone formed by SMA50, Fib 0.50 and 8000.00 levels. It will give a new buy opportunity based on a reversal signal.

Comment:

The price could not break 10000.00 resistance level and we saw a downward movement to the support zone. Now we have to follow the alternative variant. Keep an eye on the price action in this zone. If we get a confirmed reversal signal, it will be a good buy opportunity.