Bitcoin: Reversal from 10 000USD and New Trade Opportunities
The buyers could not break 10 000USD. The price bounced from this resistance and moved back to the local uptrend line. Now, we have at least 3 possible variants of how the market will be able to move in the nearest future.
If the price bounces from the local uptrend line and breaks 10 000USD, it will be a bullish signal. It will confirm the power of the buyers.
If the price breaks below the uptrend line, we should be ready to see a downside movement to the broken downtrend line. The price action in this zone will be important. If the price bounces, it will be a possible buying opportunity.
If the price drops below the broken downtrend line, it will be a signal that the market is going to move downside to 8600USD and 8000USD. The price action at round numbers will be able to provide new buying opportunities.
I don't recommend to follow any bearish signals and open short trades. As for buying, it will be better to use reversal signals from strong support and stop orders below the local swing lows. Don't forget about proper money management!
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price bounces from the local uptrend line and breaks 10 000USD, it will be a bullish signal. It will confirm the power of the buyers.
If the price breaks below the uptrend line, we should be ready to see a downside movement to the broken downtrend line. The price action in this zone will be important. If the price bounces, it will be a possible buying opportunity.
If the price drops below the broken downtrend line, it will be a signal that the market is going to move downside to 8600USD and 8000USD. The price action at round numbers will be able to provide new buying opportunities.
I don't recommend to follow any bearish signals and open short trades. As for buying, it will be better to use reversal signals from strong support and stop orders below the local swing lows. Don't forget about proper money management!
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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