Bitcoin - When to Buy and What to Expect

The price could drop below the strong support zone formed by SMA50 and 10 000 round number level. What does it mean? It means that the 1st support zone was passed and we should expect the further falling to the 2nd and the 3rd essential support zones. You can read more details about them in the post from the related ideas.

Now the main focus should be on the 2nd support zone formed by 8000 support level and SMA100. How the price performed at SMA100 in the past, you can see it by yourself. Just scroll back the chart. You will get better ideas about this support line and why you should trust it.

If the price bounces from this zone, a confirmed reversal signal can be used for opening long positions with stops below the local swing low or SMA200. Profit targets should be at 14 000 and higher resistance levels. It will depend on the exact trading plan.

If the price breaks this zone, we should be ready to see a falling to the 3rd support zone formed by 6000 support level and SMA200. This zone will be the perfect one for buying, but for reaching this zone, the market will need solid fundamental factors.

I would like to ask you to support this post and my work by your likes, but I don't want to push you to do this. Thank you very much for your time and interest!

Commento:

And YES, I can reverse markets!

Commento:

The price moved above 10000 resistance and broke the downtrend lines. It gave us a good bullish signal. But if you look at the 4H chart, you will see that the market reached the resistance zone formed by MAs and bounced from it.

The next price movement can be interesting for us too. If the price bounces from 10 000. we will be able to get a reversal chart pattern. What do you think about it?