Bitcoin How to Trade

The price broke 7000.00 important level and dropped to SMA100. This support line can stop and reverse the market. In spite of MACD and DMI indicators confirm downward movement, RSI is in the oversold zone. It can be a signal that the market will reverse soon and start a new upward movement. If we get a bullish candle at SMA100 and RSI confirms price reversal, we should be ready to buy above 7000.00 level. But levels at the support zone are more interesting for buying. This zone is formed by 6200.00 and 6000.00 levels and it's stronger than SMA100. If the price bounces from this zone, pending orders for buy can be placed above the high of the signal bullish candle.