Bitcoin: Bullish Signals in Bearish Market

If we look at the market using the daily timeframe and signals from indicators, we will get a bullish signal.

The strong bullish candle confirmed the price reversal from 6500.00 support zone. RSI and MACD histogram confirmed the price reversal as well. MACD lines move upward, and it supports a possible upward movement.

DMI tells us about the range market conditions. ADX line falls, and it is a signal that sellers are not so strong.

We also have a strong trend reversal signal. It is based on a bullish divergence.

If we talk about possible buy signals, we have one which can be used for opening long positions above 7350.00 withs stop orders below 6500.00 support. But it does not mean that the market confirms a new uptrend.

The market is in bearish trend now, and it still has everything to reach 6000.00 strong support, which is the bottom. We should talk about these bullish signals, which can confirm just an upward movement to SMA100, SMA200. But for getting confirmation that the bearish trend was changed into bullish, the price will have to break strong resistance lines and levels. For this, the market must have fundamental reasons. Do we have them now? I think no. That's why it will be better to talk about correction movements in the bearish market or sideways movements between 6000.00 and 8000.00 levels.

And how will you manage the current situation in BTCUSD market? Share your ideas in comments.

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