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While the US Congress plans to hold another hearing about the Libra cryptocurrency, bitcoin has updated the level of 12000 USD and is not going to stop. In the crypto community, there are rumors that the recent sharp growth of bitcoin above 10000 USD was caused by the future appearance of the Libra cryptocurrency, the white paper of which was presented last week. Let me remind you that there are many opponents of Libra in the US Congress, as its appearance can seriously affect financial flows.
Signal to buy Bitcoin (BTC):
The goal of bitcoin buyers is now to consolidate at the level of 12000 USD, which will retain the upward potential and will continue the growth of bitcoin in the area of 12500 and 12980, where I recommend fixing the profit. However, it is best to buy on the correction in the support area of 11540 and on the rebound from 11000.
Signal to sell Bitcoin (BTC):
It is necessary to understand that the growth cannot continue indefinitely, but it will also not be right to look for rebounds from the highs, with the current crazy market. It is best to wait for the formation of reversal patterns and only then open short positions. While such models are not nearly visible. In this regard, I do not recommend to trade bitcoin in short positions.
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