Well, Bitcoin is on fire for last 2-3 weeks. Slowly but gradually Bitcoin was going Bullish for quite a few days and now it has broken a strong resistance at $8900 and shoot right across $9000. But a currently it corrected to $8750. All the media and Technical Analysts believes that the next Bull-run is about to start and several predictions are being made for the BTC price by the end of 2018.
Well, being optimistic is good but if we look at charts, BTC still has a long way to go to ATH level of $20000. In order to change the overall trend, BTC has to cross this $9177 with Volume and conviction.
We all know the market manipulations happens in this crypto space time and time being. This BTC move toward $9000 might be another market manipulation. So, I would advise all the traders to be cautious while trading Bitcoin.
Let's have a look at the chart below:
DQmWhbqgX5cNzx8C1xtRv7aVJGvykvH8V9FjFxq9MpWaoNc_1680x8400.png
Well, in above chart you can see:
Current Price is $8741.
Strong Support : $7823
Strong Resistance : $9177
MACD cross happened and predicting Bullish uptrend.
So, there's a great percentage of chances which suggests that market might go Bullish but still until $9177 breaks, I would advise all to be a little cautious.