As we had assumed in the previous review, the point of $ 10’000 became a local peak.
Bitcoin fell to $ 7’000 not reaching the previous bottom of $ 6’500.
Yesterday growth and bulls’ takeover on the daily chart let us suggest the stop of decline and the rise to at least $ 8’000. Within medium-term consolidation the rise to $ 9’000 is likely too. At the same time, while the rate is below decreasing low-moving average of weekly chart (today it is a bit higher than $ 9’000), the further decline is more likely. That is why we advise to take advantage of the rate growth to the zone of $ 8’000 - $ 9’000 to open short positions. Stop above $ 10’000. The first target is $ 6’000.
Wish you profitable deals!
Follow our reviews!
Bitcoin fell to $ 7’000 not reaching the previous bottom of $ 6’500.
Yesterday growth and bulls’ takeover on the daily chart let us suggest the stop of decline and the rise to at least $ 8’000. Within medium-term consolidation the rise to $ 9’000 is likely too. At the same time, while the rate is below decreasing low-moving average of weekly chart (today it is a bit higher than $ 9’000), the further decline is more likely. That is why we advise to take advantage of the rate growth to the zone of $ 8’000 - $ 9’000 to open short positions. Stop above $ 10’000. The first target is $ 6’000.
Wish you profitable deals!
Follow our reviews!
