Bitcoin 5 Bullish Signals

The markets gives the 2nd strong bullish candle and we have a logical question, is it time to buy?
I should remind you that we had several times strong bullish signals but the market could not develop a strong uptrend. This price movement can be a new attempt for this and these levels can be a new starting point for new bullish trend in long run. But in order to be sure, let's make a list of bullish signals which we have now and think about possible entry levels.

1. The price gave the 1st trend reversal signal when we got a bullish divergence.
2. When the price broke the downtrend line, the trend reversal was confirmed.
3. An inverse Head&Shoulders reversal chart pattern was confirmed today and it gives us additional signal confirming further upward movement.
4. Considering SMA100 as a signals' line for long term trend, if the price breaks it too, we'll have one more signals confirming the trend reversal and bullish market.
5. MACD and RSI are bullish and confirm the upward movement.

These 5 bullish signals confirms that the market is going to move upward. Will it be able to develop this upward movement into a stable uptrend in long run, we'll see. The price action in the resistance zone between SMA100 and 8000.00 level, will show us the strenght of the bulls.

As for possible entry levels, based on the daily chart, they can be at the high of the bullish candles, the breakout above SMA100 or above 8000.00 resistance. Also it will be possible to search for better entry level on lower time frames and join to the upward movement after short term retracement on the daily chart.

Comment:

The resistance zone formed by 7600 and SMA100 could stop the market. It can move lower in short term, but medium and long term look more bullish now. The price action at SMA100 will show us the further direction.