01.05.201909:56 Forex Analysis & Reviews: Bitcoin. Bitcoin exchange rate is gaining strength

Apparently, the Bitcoin exchange rate is gaining strength again after a small consolidation, which was observed at the beginning of this week. The cryptocurrency is close to a large annual maximum in the region of 5660, which will generate a new impulse wave of growth.

Signal to buy Bitcoin (BTC):

To resume the upward trend, the main goal of buyers is to break the maximum of 5660, where the market can continue its rapid growth in the area of 5880 and 6025 levels, where I recommend fixing the profit. In the scenario of another unsuccessful growth attempt, you can look at the long positions on the support test 5500 and on the rebound from the area of 5360.

Signal to sell Bitcoin (BTC):

Another unsuccessful consolidation above the resistance of 5660 can again push potential buyers of Bitcoins, which will be a sell signal with the main purpose of returning to the support area of 5500 and 5360, where I recommend fixing the profits. In a scenario of breakthrough 6605, you can count on sale after you have upgraded your highs at 5880 and 6025.