After a week of consolidation after bottoming out at $9,230, bitcoin is showing signs of bullishness. Confirmation of a bullish rally will occur when $11,700 price level is surpassed.
Daily MACD (moving average convergence divergence) indicator (bottom quarter of chart where 'golden cross' is a light blue cross symbol) - just made a golden cross up and TD (Tom Denmark) indicator (numbers listed above or below each daily price candle) is at a 2 which is a bullish price entry (once the previous day's doji candle price high is exceeded - $11,700).
I suggest all traders buy breakout of $11,700 and hold at minimum until we hit the sell/short RLZ (reload zone) resistance/supply area of $14,500 (which is the 0.70% Fibonacci retracement b/t the 1/6 $17.2k local high and 1/17 $9.2k local low) shown in red outlined rectangular box.
