1/8 Murrey Math Level in Bitcoin's one-hour chart has acted as support once again. So, there's another opportunity to have a bullish rally, at least in the short term. However, the price is under Super Trend Lines, which means we should wait for Super Trend Lines developing a 'Golden Cross' as confirmation for the outlook.
Besides, it's essential that is the scenario is correct the market should fixate above 3/8 MM Level. If this happens, there'll be more evidence that the bullish rally is underway. Additionally, we should pay attention to 4/8 MM Level that is confirmed by higher timeframes. If this level acts as resistance, there'll be a moment to have a local downward correction, possibly towards the Super Trend Lines.
The main short-term target for bulls is 8/8 MM Level, which is a little bit above the last local high. The final confirmation for this scenario will be price fixating under 5/8 MM Level. Meanwhile, 7/8 MM Level is also an important one. Just have a look like the price hasn't been gone through this level last time that led to the current decline. If this happens again, 8/8 MM Level will be unreachable.
The bottom line is that there's a significant bullish opportunity in Bitcoin. A 'Golden Cross' by Super Trend Lines will confirm that the bullish rally is taking place.
