Friday's trading resulted in the renewal of the historical mark of $5,000 per bitcoin. However, these indicators were not recorded on all exchanges.
If understood correctly, it is a question of overcoming the bitcoin rate of $5,000. Indeed, the overall index of Coindesk showed a maximum of $5,013. However, on the leading exchanges, where the maximum volume of trades is concentrated, such as Bitfinex, Bitstamp, and Coinbase, the price is 20-30 dollars below the historical mark.
Thus, we can conclude that even though an update occurred, many traders were ready to fix short-term profits which did not allow bitcoin to gain a foothold above the level of $ 5,000. A similar situation happened with the $3,000 mark, which it reached in June this year and before collapsing. A return to this level occurred only after a few months.
Bitcoin (BTC)
The signal to buy Bitcoin (BTC):
For buyers of bitcoin, the acceptable level is in the area of 4466 and 4377, from which it is recommended to go back to long positions for the purpose of renewal and test of the level of 4540. When securing to 4540, it is possible to increase long positions with the expectation of updating to 4604. This is where it is best to fix profits, since this area is the upper boundary of the channel.
The signal to sell of Bitcoin (BTC)
For sellers of bitcoin, it is recommended to consider the level of 4604 for this, or to look for sales at the test of a larger resistance at 4682. In case of a breakdown of the level 4466, you can also see short positions with an exit at 4377, where I recommend fixing profits.