Bitcoin looks bullish since it broke the down moving trend line but now is near strong 12000 resistance. 12000 level has been strong resistance last few times as we can see with the red horizontal line on the chart.
Although market has its own mind and will do what it thinks is right but I came up with 3 possible scenario which might possibly play.
Price breaks 12000 level and then test it again and move up for new highs.
Price goes back to test the broken down moving trend line near 9000 level and make double bottom there and then start moving up.
Price goes back below down moving trend line and then move back above the down moving trend line and turn bullish.
I still have pending open at 8200 to buy. If i see that different scenario is playing out will look for a entry point above 8200. But 12000 is the key and is very strong resistance for now.
If you like it please upvote it and resteem it and comments are welcome.
NOTE: I am not a financial adviser and this is for education and entertainment purpose only. This is not a trading advise and just my opinion, please trade at your risk and do your research.