Bitcoin Entry Level

The price stays above 8000.00 which is a key support level now. If the market can't break it and fall to SMA100 and 7000.00 level, we should be ready to see continuation of the uptrend. RSI confirms price reversal from 8000.00 level. MACD histogram supports upward movement. DMI shows range market conditions but if ADX line starts moving upward, it will give us an additional signal for buying. We can use the previous swing high for placing pending orders. Entry is 8430.00 level with stop at 7830.00 level. Profit targets are 9000.00 and 9500.00 levels. The market is overbought and has potential for falling. It's high risk trading and you must use stop orders. Also, you can skip this trading idea and wait for correction movement and buy based on a solid reversal signal.