Bitcoin price is has got the drop it requested for. Many speculations are aimed at bitcoin being bearish, but the reverse is the case.
In the above video, I explained why bitcoin is still bullish and why you should look to buy more at good positions.
Bitcoin price is sitting on a support at $10,157 and has tested this level multiple times.
On the 4hr Chart, bitcoin has shown bearish behaviours and might tumble finally, but yet our daily chart still plays above the 200 MA. The MACD moving averages have crossed upwards in the oversold region and could present us some reasonable spikes soon.
What we seek is to see bitcoin price cross $10,600 and our MACD moving averages cross above the zero mark. Then our next entry will be reasonable.
Looking at the technical indicators:
- Major Support Level – $11,465