Bitcoin Goes Upward

The price bounced from the support zone formed by SMA50, SMA100 and the downtrend line. RSI confirms price reversal. MACD histogram supports an upward movement. ADX line rises and it tells us that the bulls become stronger. DMI also confirms that the market is going to move higher. If the price breaks the previous swing high, probably 12000.00 level will be reached very quickly. Any way, the market becomes more bullish and we should expect that the upward movement will continue.

P.S. For better understanding movements in this market, I advice you to read a full market overview based on the weekly, daily and 4H timeframes. You can find the posts in the related ideas.