FX.co ★ BITCOIN Retreat Is Over!

BTC/USD is still expected to resume its upside movement after escaping from the downtrend. I've told you in my previous analyses that Bitcoin should increase after making another higher high.

The price has decreased a little in the short term only to retest a support area right above $10,000 psychological level and now edges higher. Bitcoin's ability to stabilize above $10,000 level signals strong and determined buyers to push the rate way higher on the medium to the long term.

• Bitcoin Trading Tips

You can buy the current rebound from above 10,000 level with a first target somewhere at 12,300 level, former high. The Stop Loss should be placed below the $10,000 psychological level. A drop below this level invalidates a further growth and suggests selling.

$12,918 is seen as an important upside target as well. Another higher high, jump above the former peak high should validate a long term upwards continuation.