Bitcoin, BTCUSD, CryptoCompare chart

BTCUSD Medium-term Trend: Bullish

Resistance: $12,000, $11,000, $10, 000

Support: $7,000, $8,000, $9,000

Today, LTCUSD is in  the bullish market trading at $9978.82. The 20-day moving average is above the 50-day moving average indicating that price is rising whereas the RSI period 14 is level 44. That is the price is in bull trend zone.

BTCUSD Short-term Trend: Bullish

Bitcoin, BTCUSD, CryptoCompare chart

Yesterday, BTCUSD was in a bullish market trading at $9,729.30 .I said as the pair is in an uptrend movement it is a clear sign that bitcoin price will rise as long as the bullish market last. Traders can profit in the uptrend movement. First they should have the ability to recognize the various types of  markets. Secondly, in an uptrend market the market will always retrace back to the previous swing point and then bounce higher to resume the uptrend.

These are swing points to lookout for to place your long trades.Today, BTCUSD is still in a bullish market trading at $9,978.82. However, an uptrend moves along the pattern of higher highs(HH) and higher lows(HL); it is when these principles are breached that the uptrend will reverse. Traders will need to exit their positions.