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Forex Analysis & Reviews: Bitcoin. 9 800 it is! We are waiting for 10,000 and a downward correction
time 21.06.2019 09:14 AM
time Relevance up to, 22.06.2019 09:06 AM

The exchange rate of bitcoin quite expectedly continued its growth and updated the resistance of 9,800. Only the level of 10,000 USD is ahead. After the test of which, there will be a large profit-taking. However, an update of a maximum of 10,000 USD will also indicate a gradual entry of large players into the market, which will retain the long-term upward potential.

Bitcoin (BTC) buy signal:

Buyers will probably try to break through above $ 9,800 today and get to the psychological level of 10,084, where I recommend taking profits. An unsuccessful breakdown of 9,800 will also lead to a dramatic decrease in bitcoin. In such a scenario, it is best to consider buying on a false breakdown from 9,520, or to rebound from 9,250.

Bitcoin Sales Signal (BTC)

Bears will operate in the region of 9,800, and an unsuccessful breakdown of this range will provoke a sharp closure of long positions with a decrease in cryptocurrency in the area of the minimums of 5,520 and 9,250, where I recommend taking profits. With further growth above 9,800, the maximum resistance will be the highs of 10,084 and 10,330, from where you can try to sell Bitcoin to the rebound immediately.

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Miroslaw Bawulski,
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