Bitcoin: Bearish Signal with 8000.00 Target

Well, if you expect the continuation of the uptrend, you will probably be disappointed.

The price broke SMA100, and it is a bearish signal. If we don't get a quick reversal, we should be ready to see a new downward movement to the zone at 8000.00 level. We have the combination of SMA200, the old downtrend line, and the round number, which make this zone good for a reversal.

If we talk about buying, I would like to get a reversal signal from 8000.00 support zone. Even if the market continues the falling, this support zone will be good for the 1st long position in the direction of the main bullish trend. Yes, such type of trading will allow us to have several positions between 8000.00 and 6000.00 support levels.



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.