BTC is Bullish
We always provide both the bullish and bearish scenarios because the traders should be aware of what to expect in both cases.
BTC has bounced back today from the $9750 level. It's still trading under the 200-day SMA which shows strong resistance.The bulls will again try to break into the 200-day SMA, which will be another bullish sign. If that happens we expect a rally to trendline 2 shown in the chart.
If any correction happens, BTC will find support from the small trendline shown in red, and from the 20-day EMA. However, if the supports break down a fall to the 50-day SMA is expected. We also think that any dips will be bought by the bulls.
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.