The price broke the key downtrend line, and it gave us a solid bullish signal. Now the main question is, will the buyers be able to develop the uptrend further or not? The buyers have good experience in failing in periods when they should succeed.
I read in Twitter the amazing messages from the gurus of trading, telling that Bitcoin will never move back to 10 000USD, that Bitcoin will reach 1 000 000USD and so on. Really? Do you really think so? Well, we will see.
The price broke the important downtrend line. The price action at this trend line and the local swing high will show us in which direction the market will move.
It will be possible to see the pullback to the trend line with further retest. The price reversal from this zone will push the price to 10500USD. The breakout above this resistance will open the road to 12000USD and 14000USD. I use the round number levels as they are important for the market by default, and different exchanges provide different prices.
The same market movement we will be able to get if the price breaks the high of the previous bullish candle. But in this case, 10500USD and 12000USD will be much more reachable than 14000USD.
The halving can push the market upside even if it's not so logical. RSI is in the overbought zone, and it is ready to give a bearish signal. The pullback to the trend line will be good for the market as it will allow new buyers to join the uptrend and push the price higher.
The breakout before the downtrend line will be able to push the price to 8000USD.
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.
I read in Twitter the amazing messages from the gurus of trading, telling that Bitcoin will never move back to 10 000USD, that Bitcoin will reach 1 000 000USD and so on. Really? Do you really think so? Well, we will see.
The price broke the important downtrend line. The price action at this trend line and the local swing high will show us in which direction the market will move.
It will be possible to see the pullback to the trend line with further retest. The price reversal from this zone will push the price to 10500USD. The breakout above this resistance will open the road to 12000USD and 14000USD. I use the round number levels as they are important for the market by default, and different exchanges provide different prices.
The same market movement we will be able to get if the price breaks the high of the previous bullish candle. But in this case, 10500USD and 12000USD will be much more reachable than 14000USD.
The halving can push the market upside even if it's not so logical. RSI is in the overbought zone, and it is ready to give a bearish signal. The pullback to the trend line will be good for the market as it will allow new buyers to join the uptrend and push the price higher.
The breakout before the downtrend line will be able to push the price to 8000USD.
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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