After the recent sharp decline in the exchange rate of Bitcoin in the region of 5 000 and also a rapid return, the trade has been established within the usual range, which maintains its upward potential. Let me remind you that the sharp fall in Bitcoin was directly related to the claim of the Prosecutor General of the State of New York against the company iFinex, which belongs to the Bitfinex exchange and the company Tether.
Bitcoin Buy Signal (BTC):
While trading is above the range of 5 370, buyers will remain optimistic and try to gain a foothold above the resistance of 5 500, which will lead to another upward wave with an update of the maximum of 5 660, where I recommend taking profits. With a decrease in Bitcoin, you can take a closer look at the purchases from the support of 5 360 and 200.
Bitcoin Sales Signal (BTC):
The next unsuccessful consolidation above the resistance of 5 500 will be a signal to sell, however, the main goal of the sellers will be to return to support 5 360, which can push the cryptocurrency to the area of minimum 5 200 and 5 050, where I recommend to fix profits.
