01.03.2024 04:05 PM
Trading Signals for BITCOIN (BTC/USD) on March 1-15, 2024: sell below $62,500 (5/8 Murray - correction!)

This image is no longer relevant

Bitcoin is trading at around 62,500. This level coincides with 5/8 Murray which represents a strong range zone. Bitcoin could likely move between 63,000 and 50,000 in the coming days.

The weekly chart shows that Bitcoin has been developing a strong uptrend and is likely to continue its rise in the coming days. The price could reach the key level of 65,000 and even the $70,000 landmark.

In case BTC continues to rise in the next few hours, it is expected to reach the high of April 11, 2021, around 64,754. This level could be seen as a strong resistance and could act as a strong barrier and encounter rejection.

As seen on the weekly chart, Bitcoin is trading around the price level that acted as strong resistance in the past. As seen on the chart, BTC dropped below 64,754 in 2021 and had a strong correction of about 30K.

According to this assumption, it is likely that BTC could return towards the psychological level of $50,000 in the next few weeks and could even reach the 21 SMA located at 41,589.

Technically, our strategy could be to sell below 5/8 Murray at 62,500 with targets at 58,450, $54,000 and finally, at 4/8 Murray at about $50,000.

In case BTC reaches the high of 2021 at around 64,700 and fails to consolidate above this area, it could also be seen as a signal to sell.

Dimitrios Zappas,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $9000 अधिक!
    में अप्रैल हम आकर्षित करते हैं $9000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback