Bitcoin had dropped to $40000 mark before pulling back higher on Monday. The crypto might have found support around the $40000 mark an might resume its rally from current price. It is advised to take profits on short positions from $48000-49000 levels as suggested earlier. The counter trend drop might stil drop toward $37000 mark before Bitcoin resumes higher again.
We would now be inclined for a potential buy on dips trade setuo since downside remains imited from here. Aggressive traders might plan to initiate long positions around $41000-42000 zone against $35000. If the trend resumes from here, potential remains to push above $65000 mark in the next several days.
Bitcoin is seen to be trading close to $42700-800 levels and is expected to push towards $48000-49000 in the near term. Immediate support is seen at $40000, while resisitance is around the $48000-49000 mark. A break above $48500 will confirm that bulls are back in control and that Bitcoin is heading towards $65000 mark.
Potential rally towards $65000 against $35000.
*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.