Given the technical picture, it is quite possible that buyers of Bitcoin will soon attempt to resume the growth of cryptocurrency in the area of 10000 USD As for the news, the statements of the representatives of the European Central Bank during the G20 summit, which discussed the scenarios for the implementation of cryptocurrency standards, were quite interesting. The European regulator concluded that the rules developed by the intergovernmental organization FATF related to cryptocurrency are suitable for supervision and monitoring and recommended the G20 countries to study them in more detail.
Signal to buy Bitcoin (BTC):
From a technical point of view, nothing has changed. Yesterday, buyers coped with the task of retaining the support level of 8480, which led to a gradual return of Bitcoin to the resistance area of 8900, a breakthrough that would bring the bull trend back to the market and lead to an update of the highs in the area of 9100 and 9300, where I recommend fixing the profits. Those who still believe in the correction and reduction of Bitcoin, you can wait for the updated minimum of 8120 and open long positions from there.
Signal to sell Bitcoin (BTC):
Today, sellers need to try again to prevent the impulse of the resistance of 8900, which will be a clear signal to sell Bitcoin. However, the main task is to consolidate below the support of 8480, which will lead to the demolition of a number of stop orders and a decrease in cryptocurrency in the support area of 8120 and 7646, where I recommend fixing the profits. In a growth scenario above 8900, it is best to return to short positions in Bitcoin on the rebound from the highs of 9100 and 9300.
