Hello everyone, today we have an analysis on the mother of all cryptos, Bitcoin. I'm sure you want to know as much as everyone else, is the bull market back or do the bears still have the upper hand? We have a slight chance to bounce here at $8670, however, seeing that the MACD has crossed bearish and we've had buy volume consistently slowing for the last couple weeks, I believe we will be heading to the next support down, around $8400, before we see a bounce to continue the uptrend.
We have a good chance of bouncing strong at the $8400 support level to continue the bull market as this is a historical support and resistance zone, however, this can be manipulated by whales should they decide to short the market.