empty
 
 
21.04.2021 12:37 PM
Trading plan for Bitcoin for April 21, 2021

This image is no longer relevant

Technical outlook:

Bitcoin price action remains sideways for the past few trading sessions, after having dropped from sub $65,000 through $52,000 lows over the last week. The crypto is expected to print one more low around $49,800 mark, before pulling back higher. Also note that potential remains for a decline towards $41,500/600 levels, which is fibonacci 0.382 retracement of the entire rally between $3,850 and $65,000 levels respectively.

Bitcoin price action remains subdued and is trading around $55,200 levels at this point in writing. Immediate short term price support is just below $50,000, while resistance stays around $65,000 levels respectively. A break below $50,000 support will confirm further downside towards $43,000 and $41,500 levels respectively, going forward.

The overall structure continues to remain bullish until prices break below $25,000 mark. For now, Bitcoin should remain well supported around $41,500 levels to resume its uptrend towards $75,000 and higher. Also note that previous swing support is also seen towards $43,000 levels and hence probability for a bullish turn remains high.

Trading plan:

Remain short, add more @ 60,000/61,000, stop @ 65,000, target @ 43,000, 41,000.

Good luck!

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback