Bitcoin - To The Moon or Just a Good Spike?

The market makes one more step forward confirming the strength of buyers and the high demand. The price tries to break 5000.00 resistance level and during the next few days, it will tell us about further market movements.

It will be logical if the price reverses from 5000.00 and correct the upward movement. It will be good in the bullish structure which we have now. We will get the correction which should be used for searching proper entry levels for buying. The market will be able to move to the nearest support zone between 4200-4000 levels. The reversal signal from this support will be good for opening long positions.

If the market continues upward movement, the next resistance which will be able to stop buyers - it's 6000.00 level. It is the strong resistance where the reversal and further downward movement will be logical. If so, the support zones will be at 5000.00 and 4000.00 levels. We will wait for confirmed reversal signals from these levels. Buying based on them will be good if you want to take part in medium and long term trading.