Nothing goes parabolic. That's the statement that best describes the sentiment in crypto market today. There is blood in the market especially in altcoins. Bitcoin can't hold 10,500 level and went below 10,000 level again. But the question is: Does Bitcoin still in bullish state? Do the Bears take the control in the market?

In a typical bullish market, we need to see higher highs and higher lows. Bitcoins last low is $9,105 levels. Bitcoin is trading at $9800 today so Bitcoin still holds higher lows unlesswe go below that level as you see in daily BTC graph. Source:Binance.com.

Price action: Pay attetion to S/R levels

Asy you see above, Bitcoin violated the upward sloping support line yesterday. So BTC is retracing and the trend is broken.  BTC  is still trading at $9,00 above the critical 21 weekly MA, though. Blue lines in the graph above are showing S/R levels. Bitcoin is still bullish as long as it breaks the last low $9,105 levels. If Bitcoin goes below this level, then we will know for sure it is a major reversal. Until that time, we are still bullish. Through this retracement period, however, we need to pay attention to $9,500 and $9,200 levels. Binance.com.

Technical Indicators: Still healthy on the weekly

Although daily indicators looks bearish, weekly indicators still look healthy. Weekly MACD has made bullish cross long before and still moving higher and and the histograms' bars are still growing. RSI is now around 60 level above the critical 55 level which is critical because we are historically in the bullish market. Stochastics is in the overbought region. 

Conclusion: Buy on fear, sell on greed.

Uptrending markets can not go parabolic forever, it needs to retrace. And these retracements will give us an incredible opportunity to buy the dip. Bitcoin now ready for retest of $9,200 before to move towards $11,000 and $12,000 levels. The replacements like this one provides good entry points. If the $9,360 and $9,150 levels holds then  Bitcoin will continue to the upside, targeting $11,000 and $12,000 levels. So, $9,360 and $9,150 levels can be good long positions.

So start to look for a safe entry zone with a proper stop loss. 

Thanks for reading. I hope you’ve found it helpful.

*********************************

-- Earn free Bitcoin, go to  cointiply.com, the highest paying Bitcoin faucet. 

-- Get Free Verge (XVG), ByteCoin (BCN), Steem, Tron (TRX), Siacoin, Bean cash, etc. at theCryptoFaucet thecryptofaucet.com 

-- Do not forget to use Brave Browser instead of Chrome ( download here BRAVE browser and get BAT token ($5)  

-- Sign up for Coinbase and get $10 Free Bitcoin:www.coinbase.com/join

Download mobile App and earn LTC here at bitcoinaliens Litecoin  

-- Claim your free LiteCoins here at  free-litecoin.com 

Download this mobile App and earn BCH here at bitcoinaliens BitcoinCash

-- Claim your Free Bitcoincash here at free-bcash.com

-- Get Free Monero (XMR) here at free-monero.com

----use Multi Faucet App, to earn ad Moon Litecoin, Moon Dash, Moon Bitcoin, FreeBitco.in, Allcoins, Cointiply., Faucethub.io,  Free-Litecoin , Coinfaucet.io ,  FreeCardano, FreeBitcoin.io, FreeNEM,  Free-Bcash. THIS WILL ENABLE YOU TO CLAIM WHEN YOU ARE OUTSIDE. You can download Multi Faucet App on Google Play (Click here to go to Google Play page)

For Donations: 

BITCOIN:  1DaiEgPxzzud6giRWzwyiQQ7pNpQ99QrxL

ETHEREUM:  0xfe802d48e012414e4d4cd4cdce34ea8ac08ebf24

Sign up to Publish0x and get crypto :  https://www.publish0x.com?a=1YQdJWyeOG

Sign up to Binance Exchange: www.binance.com