We are still waiting for a next trading opportunity. Possible scenarios are:
- The price will be supported around 8,300USD.
- The price will be supported around 8,000USD.
- The price will break through downward 8,000USD.
There are some strong support around 8.000, for instance Kijun-sen (base line), 100 days MA and 20days SMMA. There is 20days EMA around 8,300USD at the moment.
1 is most idea for new rally of Bitcoin, The price will reach at 10,000USD on the next bullish trend easily in this case.
2 is most likely. The price will reach at 10.000USD also in this case.
3 is the worst, although it’s unlikely. If the price will break through downward 8,000USD, the next support level will be around 7,700. It’s a neckline of triple bottom.