The price is not far from the support zone formed by 220.00, 200.00, and the uptrend line. When Bitcoin reverses and starts a new upward movement, reversal signals from the support zone in this market will be used for buying.
The breakout below the uptrend line will push the market downward. But SMA100 and SMA200 will be the 2nd support zone which will be able to stop and reverse the falling market.
Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.