The crazy growth of bitcoin continued, which allowed reaching the level of 13600 USD, but then there was a major profit taking, which threw the cryptocurrency back to the area of 11600. Now, the trade is above 12000, which retains the potential for further growth.

Yesterday, it became known that the US Securities and Exchange Commission announced the beginning of the collection of proposals and submitted for public discussion a change in the rules for listing bitcoin ETFs.

If in the future the SEC decides in favor of the ETF – this will be a powerful impetus to the growth of bitcoin in the region of 20000 USD.

Signal to buy Bitcoin (BTC):

Given the powerful profit taking, there is no need to hurry with the purchase. It is best to look at the long positions from the lower limit of 11500 and 11000. The main task of the bulls will be to hold the support of 12000 and return to the resistance of 12900. However, most likely, trading will take place on this side channel in the near future.

Signal to sell Bitcoin (BTC):

Short positions on bitcoin are best opened when approaching the upper border of the side channel 11500 – 13500.