Bitcoin does not currently have strength to beat $ 10,000
In the previous analysis, we focused on the $ 10,000 area, because we were in close proximity to. After a week, we can see that BTC did not even touch this prize and the bears sent it under $ 9,000 where the bulls lost the support zone. Today we reached a daily minimum of $ 8642 (binance) and we currently have two scenarios here.
So let’s take a look at what we can expect from BTC for the following days:
- From $ 9,000 support has become a resistance that the bears will guard
- At $ 8400 we have a very important bull support zone, the following support is much lower at $ 7500
- BTC is under MA200 which is another bearish mark, the next EMA300 support is at $ 8536
- If we close below $ 8,500 today, it will be a strong bearish signal
Watch for two important areas: $ 9,000 to revive the bulls and $ 8,500 which, if we break through the bears, will gain a clear advantage.
- LONG orders around 8400$ – 8500$ SL 5%
- SHORT orders around 9000$ – 9200$ SL 5%