13.06.201910:14 Forex Analysis & Reviews: Bitcoin. Bitcoin continues to gradually return positions

The bitcoin rate has confidently approached the resistance of 8190, the breakthrough of which will lead to a new upward wave. A smooth turn, which can be seen on the hourly chart from June 4, also indicates the return of bulls to the market.

Yesterday, there was another good news. The largest operator of credit cards Visa has launched a payment service based on blockchain technology to enterprise customers. This suggests that the industry continues to develop, which will maintain the demand for cryptocurrencies and tokens.

Signal to buy Bitcoin (BTC):

While trading is above 7860, the demand for bitcoin will remain, which will build a new wave of growth with a breakthrough of the maximum 8190 and a resistance test of 8490, where I recommend taking the profits. In the case of a decline in the cryptocurrency, support will be provided by the area of 7860, as well as a larger demand for bitcoin will be noticeable in the area of the minimum of 7460.

Signal to sell Bitcoin (BTC):

Bears need to re-form a false breakout in the resistance area of 8190, which will be the first signal to open short positions, but the main goal of sellers is the support of 7840. Only consolidation below this range will increase the pressure on the cryptocurrency and lead to another test of the minimum of 7460, which will then push bitcoin to the area of 7260, where I recommend taking the profits. In the scenario of further growth, it is possible to sell bitcoin on a rebound from a maximum of 8480.