Bitcoin buyers kept the level of 10 000 USD, which was very important for maintaining balance. Now, the emphasis is on support of 10,600 USD, and in the case of its retention, it will be possible to build the lower boundary of the new ascending channel.
Bitcoin (BTC) buy signal:
As long as trade is conducted above the level of 10,600 USD, we can expect the demand for bitcoin to continue, which will lead to updating of the highs in the region of 11,300 and 12,080. From the same minimum of 10,000 or a rebound from a new, larger support area of 9,200, the test of which would mean big problems for Bitcoin buyers.
Bitcoin Sales Signal (BTC)
Sellers are required to return under the support level of 10,600, which will necessarily lead to a decrease and update of the support of 10,000 USD, where I recommend taking profits. However, the main bearish goal will be to update the minimum of 9,200, which will create additional problems for cryptocurrency buyers. In a scenario of further growth, resistance of 11,370, as well as a larger area in the region of 12,000 USD is suitable for opening short positions.
The material has been provided by InstaForex Company – www.instaforex.com