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Even in the most optimistic forecasts, the breakthrough of the level of 10000 USD seemed very far without a good downward correction, however, as we can see on the chart, the market believes differently. Just a day, the volume of bitcoin trading exceeded 1.4 billion US dollars, which led not only to a breakthrough of the level of 10000 USD but also to an update of the maximum in the area of 11300 USD.
Signal to buy Bitcoin (BTC):
At the moment, the task of the bulls is neither to test new highs but to hold the level of 10000 USD. The longer bitcoin will remain above this range, the more likely it will be to continue the upward trend with the update of the levels of 12000 and 13000 USD. In the downward correction scenario, the intermediate support remains the area of 10600 USD, but you can look at the long positions immediately for a rebound at the minimum of 10200 and 9800 USD.
Signal to sell Bitcoin (BTC):
Selling bitcoin in the current environment is extremely dangerous. Only an unsuccessful consolidation above 11000 will be a signal to short positions in order to return to the support of 10600 and test the minimum of 10200, where I recommend taking the profit. It is best to sell on the growth of new highs after the update levels of 11540 and 12020.
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