19.06.201914:14 Forex Analysis & Reviews: Bitcoin: Buyers are building new support for continued growth

The area of 8,960 is a good support level to which I have repeatedly drawn attention and apparently, cryptocurrency buyers will try to continue from him a further upward trend in the region of 10,000 USD.

An interesting report was published yesterday, indicating that the number of citizens' requests for cryptocurrency in Japan increased by 170%. The CAA study shows that in 2018, there were 3,657 requests for cryptocurrency exchanges, which is 1.7 times more than a year earlier.

Bitcoin Buy Signal (BTC):

The main goal of Bitcoin buyers remains a breakthrough of the 9,350 range, reaching the highs of 9,540 and 9,800, where I recommend taking profits. In the case of a decrease in cryptocurrency, support will be provided around the area of 8,960 and it is best to open long positions for a rebound near the minimum of 8,630.

Bitcoin Sales Signal (BTC)

I do not recommend opening short positions in Bitcoin in the current conditions since in the near future a new wave of growth may occur. Large resistance levels can be traced around 9,350 and 9540, where it will be possible to observe the profit taking in long positions, which will necessarily lead to a downward correction. The task of bears is to break through and consolidate below the support of 8 960, which will increase pressure on bitcoin and lead to a minimum of 8,630 and 8,190.