Bitcoin: Key Support Zone between 9250USD and 9000USD
The price bounced from 9800USD resistance and moved back to 9250USD support. Look at the past performance of buyers and sellers at the zone between 9250USD and 9000USD. Based on the price action, we can say that this zone is very important for the market.
For buyers, it is very important to keep the price above 9000USD. This support zone will be the basis for a new upside movement to 10 000USD and developing a new uptrend.
For sellers, it is very important to push the price below 9000USD as it will open the road to the previous key support at 8000USD and 6000USD. Will they be able to reach their goal? I think we will see it during 1-2 months. The market has been consolidating below 10 000USD for some time already, and there must be the next strong movement. I don't see active buyers, and that's why I think the downside trend will be possible.
Maybe, Ethereum 2.0 will be able to support the whole crypto world and protect Bitcoin from the falling. We will see. As for now, we have to watch for the price action at the support zone between 9250USD and 9000USD.
The price reversal from this zone will give a possible buying opportunity with profit targets at 9800USD and 10 000USD. Stop orders for such long positions must be placed below 9000USD.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
For buyers, it is very important to keep the price above 9000USD. This support zone will be the basis for a new upside movement to 10 000USD and developing a new uptrend.
For sellers, it is very important to push the price below 9000USD as it will open the road to the previous key support at 8000USD and 6000USD. Will they be able to reach their goal? I think we will see it during 1-2 months. The market has been consolidating below 10 000USD for some time already, and there must be the next strong movement. I don't see active buyers, and that's why I think the downside trend will be possible.
Maybe, Ethereum 2.0 will be able to support the whole crypto world and protect Bitcoin from the falling. We will see. As for now, we have to watch for the price action at the support zone between 9250USD and 9000USD.
The price reversal from this zone will give a possible buying opportunity with profit targets at 9800USD and 10 000USD. Stop orders for such long positions must be placed below 9000USD.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.