25.02.202106:40 Forex Analysis & Reviews: Bitcoin has returned to the buying zone

The test of the limit buyers zone 48200-46930 stopped the coin's fall. An accumulation zone has formed, the boundaries of which are the extremes of the current week. Working within this flat will allow you to search for buy patterns from the buyers' zone, which we have defined at levels 48200-46930. The search for a sell pattern is possible if bitcoin again tests the mark of $ 55,000. The specified zone of limit buyers is also a break-even zone, so purchases in this range can be held until the formation of a reversal model of the medium-term order or the continuation of growth and the update of the annual maximum.

Exchange Rates 25.02.2021 analysis

The reversal pattern will become relevant if the closing of one or two daily candles occurs below the level of 46930. This will open the way for bitcoin to decline to $ 40,000 per coin. Until this happens, the probability of updating the annual maximum is 75%. This indicates the possibility of holding already opened purchases and opening new ones when testing the zone of limit buyers.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Samanta Kruder,
Analytical expert
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
Can't speak right now?
Ask your question in the chat.