Bitcoin: New Buy Entry

It has been a tough time for the bulls since December 2017, when the Bitcoin price peaked to 20K level and the market then fell drastically.

On June 11, we hit a key support level of $ 6600, which have been tested twice back in February and March.

On June 12 we bounced up from our support trend line (bottom blue line) and formed a Bullish Reversal Bar (marked with a green candle and a red circle) on the daily chart, indicating that the market has found support, which is the first signs of a bullish reversal.

The RSI is moving in a oversold zone and supports the possibility of a trend reversal.

The AC (looks like MACD) is moving near the zero-line. If we move above 69 level, bulls will be the strongest and a green bar will show a change in momentum indication buyers entering the market.

Entry level
6962 just above the Bullish Reversal Bar.

Targets/Resistance
1. 7700
2. 8800
3. 9800
3. 11100
4. MOON

Stop loss
6590

If support does not hold the next support level is 5500.

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