Bitcoin: 20 000$ as The Perfect Buying Zone
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After reaching 23 750$ and making it as a new ATH, the price moved back to 22 300$. We can see a sideways movement between these levels, and we can use them for getting new bearish and bullish signals.
If the price stays above 22 300$ support and breaks the local downtrend line, it will be a bullish signal with the target at 23 750$ resistance. The breakout above this level will give another bullish signal and confirm the further upward movement toward 25 000$ .
If the price breaks 22 300$ support, it will be a bearish signal. The market will confirm its interest to move downward toward 20 000$ support. If we talk about this bearish model, it looks logical. RSI reached the overbought zone, and the market can correct the previous solid upward movement.
MACD histogram supports the downward movement, and MACD lines will be able to do the same.
The market can move back to 20 000$, and retest it as new support!
The reversal signals from this support will give amazing buying opportunities in the hourly timeframes. We will be able to join the uptrend using perfect entry points.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price stays above 22 300$ support and breaks the local downtrend line, it will be a bullish signal with the target at 23 750$ resistance. The breakout above this level will give another bullish signal and confirm the further upward movement toward 25 000$ .
If the price breaks 22 300$ support, it will be a bearish signal. The market will confirm its interest to move downward toward 20 000$ support. If we talk about this bearish model, it looks logical. RSI reached the overbought zone, and the market can correct the previous solid upward movement.
MACD histogram supports the downward movement, and MACD lines will be able to do the same.
The market can move back to 20 000$, and retest it as new support!
The reversal signals from this support will give amazing buying opportunities in the hourly timeframes. We will be able to join the uptrend using perfect entry points.
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.
Note
It is interesting to watch how the community gives feedback. If I could write a post about Bitcoin moving to the Moon, I would get in 2-3 times better feedback. But I tried to describe the real situation and... it is not so interesting. It is funny!
Note
You think about new highs and your long positions, I think about a possible bearish divergence and a correction movement. Be careful! The market is good for bullish traps.
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