The breakthrough of the narrow channel, after a small downward correction, led to new purchases of bitcoin, which allowed to reach a large resistance of 12700, while maintaining a medium-term bullish momentum.
Signal to buy Bitcoin (BTC):
At the moment, a new resistance has been formed in the area of 12700 USD, the breakthrough of which will provide bitcoin with a new bullish impulse, which will lead to the update of the highs in the area of 13160 and 13530, where I recommend taking the profits. In case of a downward correction, the formation of a false breakout in the area of 12250 will be the next signal for opening long positions. Otherwise, you can buy bitcoin on a rebound from the minimum of 11500.
Signal to sell Bitcoin (BTC):
The bears required the formation of a false breakout near the resistance of 12700 that will be the first signal for opening short positions. Otherwise, I recommend going against the trend and selling for a rebound only after updating the highs in the area of 13160 and 13530. The main task of the sellers will be to break and consolidate below the support of 12260, which will lead to a downward correction in the area of the minimum of 11450.