Bearish correction for bitcoin is gradually completed. The test of a large psychological level in the area of 10000 USD began to return the demand for the cryptocurrency and draw new large players into the market, who bet on further growth. However, there is no news that allows bitcoin to demonstrate such significant growth further.
Signal to buy Bitcoin (BTC):
Buyers today need to fix and hold the bitcoin rate above the support of 10760, but the main task will be to break and consolidate above the resistance of 11700, which will lead to a new upward momentum to the highs of 12 500 and 13 200, where I recommend taking the profit. In the scenario of decline under the support of 10700, purchases can be returned from a minimum of 9900.
Signal to sell Bitcoin (BTC):
The first short positions can be seen in case of an unsuccessful consolidation above the resistance of 11700 with the main goal of reducing and returning to the support area of 10700, the breakthrough of which will provide the bears with a deeper correction to a minimum of 9900, where I recommend taking the profit.
