Bitcoin Reversal Zones

Price drops to 2600.00 support level and MA50. This zone can stop and reverse the market for short term at least. If we get a reversal signal, we'll have trading oportunity. RSI will have to confirm price reversal. MACD will have to support a new upward movement. DMI will have to allow open long trades. Only after that we should think about opening long trades. But we must be very careful with buying because of Segwit for Bitcoin. Long trades should be opened with stop orders and with close profit targets. Some part of trading volume can be holden as a long term position. If the market can pass through 2600.00 level and MA50, the next reversal zones will be near MA100, 2200.00, 2000.00 and 1850.00 support levels.

Kommentar:

Price breaks the 1st reversal zone. We have to watch for price action near MA100. If the market breaks this support line, we'll see downward movement to 2200.00 support level. If price bounces from MA100, we'll have a reversal signal and new buy opportunity.

Kommentar:

The market was stopped by MA100. This zone can be a local bottom and probably we'll see upward movement.