Bitcoin How to Trade

The market has potential for further falling to 8000.00 support level. This level forms with the uptrend line a strong support zone. If the price breaks 8500.00 level and moves lower, a reversal signal from the support zone will give a buy opportunity. Staying above the trend line will be important for further development of the uptrend. If the price drops below the support zone, we’ll see the falling to 7500.00 and 7000.00 levels.

The other level for buying can be above the previous swing high. But it will be possible if the price bounces from 8500.00 level. When the market moves above 9200.00 level, we’ll get a confirmation for the upward movement. We’ll be able to join to this movement based on a breakout signal.

Comment:

The price is going to break 8000.00 support level. Watch for the price action at the uptrend line. This zone is very important for the bulls.

Comment:

The market can bounce from the support zone between 8000.00 and the uptrend line. It will give a new buy opportunity.

If the price breaks the uptrend line, we should be ready to see the falling to 7000.00 level and the 2nd uptrend line.