15.07.201908:55 Forex Analysis & Reviews: Bitcoin. Bitcoin buyers are having problems again

The return to the level of 10000 USD, the second in two weeks, is clearly a bad signal for those who continue to rely on the strengthening of the first cryptocurrency. There is no news that can affect such a downward movement, and therefore we can conclude that the movement is based on the exit from the market of those players who pushed it to 13000 USD in one month. It is difficult to say how the course will behave further. If the level of 10000 USD will hold, special problems for buyers clearly diminish.

Signal to buy Bitcoin (BTC):

Buyers have attempted to re-enter in the area of 10000 USD, and now this level is very important from a technical point of view. While bitcoin is above this range, you can expect a return of 10600 and 11300, but if the decline below the level of 10000 USD, it is best to consider new purchases after the test of the lows of 9200 and 8900.

Signal to sell Bitcoin (BTC):

Sellers need to maintain high volatility, which will push the rate further down. The breakthrough of the level of 10000 will lead to a further decrease of 9250 and 8900, where I recommend taking the profit. A false breakout of 10600 will also be a signal to open short positions, and you can sell for a rebound in the area of 11300.