Bitcoin Returns Above $9000 But 'Death Cross' Still a Risk

in bitcoin •  7 years ago 

#BTC - A Clear break above 🔼 $9,470 would provide more power to the bulls. The weekly chart indicates a bullish trend reversal only above🔼 $11,700.

Hence, the bulls require at least a quick and a convincing break above $10,500⏫

A quick break above🔼 $10,500 would open doors for a bullish trend reversal (move above $11,700).

👉🏻Consolidation around $9,000 could end up triggering another sell-off. In such a scenario, prices could revisit the February low of $6,000.

☝🏻The longer it takes for BTC to take out $9,180-$9,470, the higher will be the risks of the "death cross"😼.
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