The Bitcoin price action seems bearish to a lot of analysts. However, there are a few bullish indicators that suggest a recovery is in the near future. Since early November, the daily charts have been bearish. Bitcoin failed to break through the $9,500 price point. Its value dropped to about $6,500 on November 25.

The good news is Bitcoin gained $1,300 from its low point. According to the Bollinger Bands, the next milestone to break is the moving average of $8,000. After that, it could get back to $9,000.

The Moving Average Divergence Convergence suggest a bullish target. If so, it will be the first green candle on the histogram. This will be a buying signal. Another indicator is the CME gap. It closed at $7,800 on November 29. If the gap fills, Bitcoin will have a 7 percent increase in value. This is not guaranteed, but it is a historically reliable metric to Bitcoin.

The last positive indicator is the Relative Strength Index. Last week, it showed that Bitcoin to United States dollar was oversold. It is currently in the mid-30s. At the 30 level, it sends a buying signal. So, these are three indicators that Bitcoin could have a price boost.

Another good piece of news is that the Bollinger Bands indicator has been broken twice in two weeks. Bears take this as a sign of a fall, but bulls see it as holding its ground before a reversal. Keep in mind that the MACD still looks bearish in its signal and line. Most analysts think the price drops are coming to an end. It could turn bullish around December 9.

Bitcoin's price is still just above the moving average of the Bollinger Bands. It will be the fourth month in a row that Bitcoin has tested the level. If it fails to hold at $6,900, this opens a new possibility of a drop to $2,750. A few experts see a pending bullish cross of the CM gap. Traders could find a $7,800 support level. The resistance point is about $9,050 for the upcoming week. Time will tell.