Bitwise Asset Management came to this conclusion, stating that the market can be reduced by almost 95% if the reports eliminate the fabricated volumes and fictitious data from CoinMarketCap. However, the rest will be supported by a regulated market of significant derivatives and be very effective.
Bitcoin (BTC) buy signal:
The task of Bitcoin buyers is to break through the range of 8,900, which will lead to new highs of 9,100 and 9,300, where I recommend taking profits. Those who still believe in decline and correction of Bitcoin can wait for the renewal of 8,480 minimums or buy for a rebound from 8,120.
Bitcoin Sales Signal (BTC)
Yesterday, an unsuccessful breakthrough of the resistance of 8,900 has already taken place but a major sell-off did not happen. It is best to return to short positions in Bitcoin at the next unsuccessful breakdown of 8,900 with confirmation of divergence on the MACD indicator, which will be the first signal to open short positions. However, more acceptable levels for selling Bitcoin are seen in the region of 9,100 and a little higher in the region of 9,300. The purpose of the bears is to return the cryptocurrency rate to the support area of 8,480.
