If you still believe in Bitcoin , this market review can be interesting for you.
The 1st zone, which we must take into consideration, is the resistance zone between 9250.00 and 9550.00 levels. The weekly downtrend line also makes this zone stronger. If the price can move above it, it will give a good bullish signal.
If the price reverses from the resistance, we will be able to see a downside move to the 2nd support zone formed by 8000.00 support and SMA200. Now, SMA100 acts as a support line, and you can see how it is holding the price. We will expect the same price action at SMA200.
The price reversal from SMA200 will give a buying opportunity.
If the price break SMA200 and 8000.00 support. It will give a bearish signal with targets at 7500.00, 7000.00, and 6000.00 levels.
The sideway movement in the borders 9500.00 and 8000.00 will mean nothing. It will be possible to buy from the support and exit at the resistance following the rules of trading in the range market conditions.
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