Bitcoin ready for retest of $9,400 before move towards $11,000?
NOTHING GOES UP IN A STRAIGHT LINE.
Wow, no shit Sherlock.
But what can we expect from Bitcoin? I think we’re in for some weeks of relative calm movements in which Bitcoin accumulates back again on a higher level, before it continues to move towards the next resistance.
The $10,000 couldn’t provide substantial support and the move is a bit overextended in my belief.
Through that I’m targeting the following levels as main long zones; $9,300 and $9,000. If these areas hold for support, then I’m thinking we’re going to see continuation to the upside, targeting $11,000 and $12,000.
I don’t think it would be bullish for the market if we drop below $9,000 as that would make a new lower low (the last higher low is sustained at $9,000).
So, there’s no reason to be bearish at all, retracements are healthy and should provide a nice buy the dip opportunity.
Wow, no shit Sherlock.
But what can we expect from Bitcoin? I think we’re in for some weeks of relative calm movements in which Bitcoin accumulates back again on a higher level, before it continues to move towards the next resistance.
The $10,000 couldn’t provide substantial support and the move is a bit overextended in my belief.
Through that I’m targeting the following levels as main long zones; $9,300 and $9,000. If these areas hold for support, then I’m thinking we’re going to see continuation to the upside, targeting $11,000 and $12,000.
I don’t think it would be bullish for the market if we drop below $9,000 as that would make a new lower low (the last higher low is sustained at $9,000).
So, there’s no reason to be bearish at all, retracements are healthy and should provide a nice buy the dip opportunity.
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