Bitcoin: New Uptrend with Target at 9500USD
Updated
What is going on in BTCUSD market? Let's look at the 1H chart and try to predict further price movements.
When the price broke SMA200, it gave a bearish signal, and we could expect the continuation of the downward movement. But the price reversed from 9125.00USD and moved above SMA200. The buyers could push the price up, and now we can see how the price is forming a new uptrend. We have higher highs and higher lows, and it gives us a bullish structure. The price broke the local downtrend line, and it gives us another bullish signal. We have the uptrend, and we can use trend-following strategies for getting buying signals. As you know, my trend-following strategy is based on MAs and the reversal signals from them.
The nearest profit target for buyers should be 9500.00USD resistance.
If the price breaks the main uptrend line and SMA200, it will be a trend reversal signal and a downward movement toward 9125.00USD support.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
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.
When the price broke SMA200, it gave a bearish signal, and we could expect the continuation of the downward movement. But the price reversed from 9125.00USD and moved above SMA200. The buyers could push the price up, and now we can see how the price is forming a new uptrend. We have higher highs and higher lows, and it gives us a bullish structure. The price broke the local downtrend line, and it gives us another bullish signal. We have the uptrend, and we can use trend-following strategies for getting buying signals. As you know, my trend-following strategy is based on MAs and the reversal signals from them.
The nearest profit target for buyers should be 9500.00USD resistance.
If the price breaks the main uptrend line and SMA200, it will be a trend reversal signal and a downward movement toward 9125.00USD support.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
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
and we can see how a very weird movement broke the bullish structure. It looks like 9125USD will be reached. Note
It is really funny! 
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