20.06.201908:33 Forex Analysis & Reviews: Bitcoin. The breakthrough of 9,350 is very close, but further growth is limited

Despite the fact that the growth of Bitcoin above 9 350 may occur in the near future, speaking and maintaining the current bullish momentum will be quite difficult after updating the level of 10 000 USD, which is a psychological mark, and where a number of large players will definitely record profits.

Bitcoin Buy Signal (BTC):

From a technical point of view, nothing has changed in recent days. Bulls have formed a good figure on the continuation of the growth of Bitcoin, and the main goal of buyers is to break through the range of 9,350 with access to the highs: 9,540 and 9,800, where I recommend taking profits. In the case of a decrease in cryptocurrency, support will be provided by the area of 8,960, while 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 9,600, where it will be possible to monitor profit taking in long positions, which will necessarily lead to a downward correction. The task of bears is to break through and consolidate below support for 8 960, which will increase pressure on bitcoin and lead to a minimum of 8 630 and 8 190.

With a large increase in bitcoin, you can take a closer look at short positions from the level of 9,800 and 10,080.