Bitcoin What Is Going On

The strong bullish candle became a surprise for the Crypto World which was bearish for several months. Now all hodlers must be happy to see such price movement because the market confirmed a new uptrend at least on the 4H time frame. When the price broke the donwtrend line, we got a confirmation of the downtrend reversal. When the price broke the swing high level and moved above 7200.00 level, we got a confirmation for a new uptrend. Now we can draw a new uptrend line which will play as a support and signal line for the further price movements. This line will be used for getting buy signals based on the price reversals from it.

If we look at the indicators, we'll get signals supporting the uptrend. MACD is bullish based on the 4H and the daily time frames. DMI is bullish too and ADX line rises which tells us about the power of bulls. We should be ready to see the development of the uptrend with reaching at least 10000.00 level. As RSI is in the overbought zone and it's going to confirm the price reversal from 8000.00 resistance level , probably we'll see a short term retracement to the uptrend line. But I think the price will bounce from 7500.00 or 7000.00 support levels and continue the upward movement. The markets becomes bullish and it's good!

And what do you think about the further price movements in this market? Please, share your thoughts in comments.

Comment: The price broke 8000.00 resistance level. What's next? The market can stay above 8000.00 and it will be a new support and starting point for further upward movement. Also, it's more logical, we'll see a short term retracement to 7500.00 level or the zone at the uptrend line. Any reversals from these zones will give trading opportunities.
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US tax declaration day tomorrow, we should consider the price effect
hi, maybe also helpful ...

So many stupid people still calling 4 5k. Unbelivable. Yeah we are not out of the woods yet still bear market but u wont see those prices.
georgime MiljanMarkovic
@MiljanMarkovic, Anything can happen in crypto.
+1 Reply
going down to 6500 then even below 5000...

this was just liquidating short positions, its still bear territory.. extreme manipulation in this market..
but hey if u catch the jump good for u.. but not time for long yet
+3 Reply
RSI 4hrs is on overbuy signal, MACD 1 Hr and 15 min are diverging since yesterday, i truly believe in a fall from 7500 or more
I like how you use horizontal lines more than trends, unlike my style . but it is amazing how our points meet most of the time :D . well done

+1 Reply
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