Bitcoin: How to Save the Bullish Market
The price broke the weekly downtrend line in the daily chart. It could give us a trend reversal signal one more time. In order to say that the market is going to move upward, we have to get the close of the weekly candle also above this trend line. Without it, we will be able to get another false breakout.
If we look at the daily chart, we can see that for the buyers, it is very important to make a new local swing high. If a new swing high stays below 10000USD, it will be a bearish signal. We will be able to see a downside movement to the local uptrend line. The breakout below trend line will push the price to 8000USD.
Let's look at the indicators. MACD lines are going to support the downside movement. RSI is going to confirm the price reversal. DMI is bullish, but ADX line falls. It tells us that buyers are not so strong right now. In the uptrend, it confirms a correction movement or a possible trend reversal.
So, if you are dreaming bout the journey "to the Moon", please do the best in order to support the market. The price will have to stay at least above the local uptrend line and make a new swing high above 10000USD.
I wish you good luck!
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 we look at the daily chart, we can see that for the buyers, it is very important to make a new local swing high. If a new swing high stays below 10000USD, it will be a bearish signal. We will be able to see a downside movement to the local uptrend line. The breakout below trend line will push the price to 8000USD.
Let's look at the indicators. MACD lines are going to support the downside movement. RSI is going to confirm the price reversal. DMI is bullish, but ADX line falls. It tells us that buyers are not so strong right now. In the uptrend, it confirms a correction movement or a possible trend reversal.
So, if you are dreaming bout the journey "to the Moon", please do the best in order to support the market. The price will have to stay at least above the local uptrend line and make a new swing high above 10000USD.
I wish you good luck!
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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