03.05.201909:43 Forex Analysis & Reviews: Bitcoin. The rate continues to update the annual highs

Bitcoin confidently broke above the level of 5660 and continues to grow in the resistance area of 5900. The accumulated volume since April 15 has allowed traders to form a good "platform" to continue the upward trend in the pair.

Signal to buy Bitcoin (BTC):

Now, the main goal of the bulls is to maintain the support level of 5660 and update the resistance of 5880, from where the rate can easily reach the psychological level of 6000 USD, where I recommend fixing the profits. In the scenario of returning to the level of 5660, long positions can still be returned to the rebound from the minimum of 5550 USD.

Signal to sell Bitcoin (BTC):

The bears will manifest itself after upgrading the resistance of 5880, but to open short positions from the rebound from the maximum of 6020. The main task of sellers will be to return and consolidate below the support of 5660, which they missed yesterday. This will lead to the closure of a number of long positions by speculative players and a decline in the rate of cryptocurrency in the support area of 5500.