Bitcoin: The Price Reached The Strong Resistance. How To Trade?

The price reached the strong resistance zone formed by:
- the local downtrend line
- 10 000 resistance level
- Simple Moving Average with period 100
- the bottom line of the triangle from the daily chart.

The price action in this zone will be able to show us further market movements. Also, we should expect to get possible trading opportunities.

There are two possible variants!

Variant 1
If the price bounces from the resistance zone, it will give us a bearish signal. The market will have the nearest target for the movement at 9000.00 support level.

Variant 2
If the price breaks the resistance zone, it will be a strong bullish signal which can be used for buying. The signal will be stronger if the market has positive fundamental news supporting buyers.


What to do now?
As the market does not provide any signals now in the important zone, it is better to do nothing for short-term and medium-term. We have to wait for the reversal or breakout signals. For the long run, the current levels look good for opening buy positions.

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