Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.
We had predicted in the last analysis that if BTC breaks out the old trendline it will rally to 50-day SMA.
BTC broke the trendline on Feb. 17 and it was stopped by both the 50-day SMA AND 38.2 percent Fibonacci retracement level. If BTC can clear 50-day SMA it will find strong resistance from the upper line of the descending channel around $12000. The strong bullish sign occurs when BTC breaks out the descending channel.
On the other hand, $10,000 will be the first support level thereafter the 20-day EMA at $9200 level.
