Hi Steemit Friend,
Bitcoin is started an upside move after trading in range level between $ 7900 and $ 8400 for a few days. Upside move is initiated and the price is traded higher and broke the main trendline at $ 8400 and continued to rise towards resistances at $ 8980. Recently the price settled around $ 8850 and may soon testing the resistances, if uptrend remains strong probably it will break but at the other side there are the risk of strong selling from this level.
Daily chart is showing the big candle broke the main trendline but I’m still wait for next daily candle close. If Bitcoin price is closed below main trendline there are chances for more drop, but if price maintain to close above main trendline for few days ahead then the end of downtrend is confirmed and from there Bitcoin will start new trend move.
Let’s See...
Disclaimer: This is not financial advice. I’m just giving idea, all trades it’s completely in your responsibility. Make sure you use trading management properly to avoid losses.
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