Active struggle for the fate of bitcoin in the US continues. In the evening, it was reported that the US Congress continues to develop laws on the use of crypto currency. Some congressmen believe that the virtual currency will threaten the US economy, and they are in favor of strictly regulating its turnover by establishing strict regulations. In their opinion, cryptocurrencies will never meet the requirements of US law. However, as we can see, the bitcoin rate is once again being adjusted to its record highs. It is possible that demand has increased after yesterday, three members of Congress said that they were developing a bill aimed at protecting the rights of citizens using bitcoin and other crypto-assets.
Bitcoin (BTC)
The signal to buy Bitcoin (BTC):
The fact that the bulls managed to hold bitcoin at the lower boundary of the channel of 4682 indicates the preservation of demand and a potential yield of 5000. However, for this to happen, it is necessary to gain a foothold above the middle of the channel 4728, which will allow the retesting of 4768 and will build an active resistance in the region of 4728, which may lead to a sharp increase in bitcoin in the area of the psychological mark of 5000, which many traders are waiting for.
The signal to sell Bitcoin (BTC)
In selling bitcoin, it is recommended to look only from the upper limit of the channel of 4770, as it is not possible to get above it yet. If another unsuccessful attempt is made to break through the 4750 range, then a return to this level can repeatedly push the bitcoin to 4682.
