You probably think that the 200 Daily MA is at $8840, but that's not the case if you look at the CME chart.
This chart holds lots of significance to price action and if you look at it now it seems possible that we drop to 9100 level the most, but if we see a good bounce from there - it's probably going to be the real deal.
The RSI level which holds support while BTC is bullish is also respected for the time being.
On the other hand if we break below it would likely confirm this whole rally a fake out of some sort and we'd be back in the abyss.
This chart holds lots of significance to price action and if you look at it now it seems possible that we drop to 9100 level the most, but if we see a good bounce from there - it's probably going to be the real deal.
The RSI level which holds support while BTC is bullish is also respected for the time being.
On the other hand if we break below it would likely confirm this whole rally a fake out of some sort and we'd be back in the abyss.
