empty
 
 
12.04.2021 05:34 PM
Trading Signal for Bitcoin BTC/USD, for April 12 - 13, 2021: Key level 59,300

This image is no longer relevant

The Bitcoin BTC / USD this weekend manages to climb above 60,000 and reached 61,153 its highest level in almost a month.

Business Today Magazine said that Bitcoin's remarkable gains this year have been fueled by its widespread acceptance as an investment and means of payment, accompanied by the flood of retail cash in stocks, exchange-traded funds and other risky assets.

On the technical level in the 4-hour charts we can see that Bitcoin remains with a strong uptrend, above Murray's 7/8 and above the 200 EMA.

The critical level is located at 59,300, if this level breaks there could be a correction of the BTC to the support zone of the 200 EMA around 56250.

Given that it is overbought, our recommendation is to wait for the break at 59300, in order to sell, with targets at 56250, as a break below the 21 SMA in 4-hour charts could result in a technical correction.

Support And Resistance Levels For April 12 - 13, 2021

Resistance (1) $60,703

Resistance (2) $61,767

Resistance (3) $62,876

Support (1) $58,532

Support (2) $57,426

Support (3) $56,362

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback