Bitcoin Is Willing To Touch $10000
Price Analysis of Bitcoin
Bitcoin Is Willing To Touch $10000. Bitcoin’s 50 days MA and 100 days MA crossed the 200 days MA which itself is giving strong signals for the reversal in the trend.
Right now the bull as taking a breath at $8,102 and previously they have crossed the resistance of $6,890 easily so that is acting as a support resistance.
Currently, the trend strength is increasing as it is shown by the ADX which may lead to the price to the new and our next resistance at $8,889.35
When it comes to the momentum of the trend MACD is also showing a positive crossover, as well as Relative Strength Index, is currently showing the value of 82.3 which is normal in this kind of bullish week.
Convergence line is currently moving above the baseline further giving a positive signal to the trend. Sticks are trading slightly upward on the upper band of the Bollinger bands.
Now let’s talk of about the trading strategy:
Bitcoin Is Willing To Touch $10000. Recent candles are smaller than the previous bullish candle which may result in the consolidation for a few days.
SO WHEN SHOULD YOU ENTER?
See the consolidation zone in the chart if its price breaks the zone between $8,400 or $8,500 (confirmation) then the momentum of the trend can help us to penetrate the resistance of $8,900 easily and then we can look up to the target of $10,000 by keeping the support at $8,500.
So before going all in wait for the breakout of the zone.
If the breakout in the downward direction below $7,700 then we will be able to see the correction in the trend may go up to $6,890.34.
So wait for the breakout and take the position accordingly.