Bitcoin. The volume of transactions in the Bitcoin network has increased

The Bitcoin rate is steadily moving to the resistance area of 5660, the breakthrough of which will lead to new automatic purchases with an update of annual highs. Yesterday, an interesting study was published, which said that the volume of transactions in the Bitcoin network increased, reaching the level of April 2017. Coincidence or not, the volume is similar to June 2018, when the price of Bitcoin was about 7000 USD.

Signal to buy Bitcoin (BTC):

To resume the upward trend, the main goal of the buyers is to break the maximum of 5660, where the market can continue its rapid growth in the area of 5880 and 6025 levels, where I recommend fixing the profits. In the scenario of another unsuccessful growth attempt, you can look at the long positions on the support test of 5500 and on the rebound from the area of 5360.

Signal to sell Bitcoin (BTC):

Another unsuccessful consolidation above the resistance of 5660 can again push potential buyers of Bitcoin, which will be a sell signal with the main aim of returning to the support area of 5500 and 5360, which I recommend fixing the profits. In a scenario of a breakthrough of 6605, you can count on sale after updating the highs of 5880 and 6025.


The material has been provided by InstaForex Company -