The price bounced from the support zone 1 and it's going to break one of the downtrend lines. MACD supports a new upward movement. But we can get a trend reversal signal, only if the price breaks the main downtrend line. We can use this breakout for entry the market and buy above the high of the signal candle. As a variant we can place pending orders above the local swing high and the downtrend line, it's 14600.00 level. Stop orders can be placed at 11600.00 level. Profit targets are 17000.00 and 20000.00 resistance levels. The part of trade volume should be left for long run.
@aslanbash, right you are, but the price can also break 15000 and we'll get a reversal chart pattern.
Phattyoshis
⋅
@aslanbash, There is lots of market manipulation any time the price gets around the 12k levels, huge market buys are being placed to stop the downtrend. We won't see 8k.
@azmondeo, I know that, but when BTC starts spiraling downward and the bots start panic selling, they normally wouldn't stop until 8k, but I watched large market orders come in at 14k on GDAX when the price was just under 12k.
prnt.sc/huw42e