empty
 
 
11.03.2024 05:06 PM
Trading Signals for BITCOIN (BTC/USD) on March 11-15, 2024: sell below $2,187 (6/8 Murray - overbought)

This image is no longer relevant

Bitcoin is trading around 71,853, above 3/8 Murray, and below 4/8 Murray. We can see on the daily chart that Bitcoin is strongly overbought but there are no signs of a trend reversal. A technical correction towards 3/8 Murray at 68,750 is likely to unfold in the next hours. From this level, BTC could resume its upward cycle to reach the target of $75,000.

We could expect Bitcoin to continue its rise in the coming hours as it has strong bullish momentum. We believe that Bitcoin could face strong resistance around 4/8 Murray located at $75,000 as it is considered a key pivot point. From this level, BTC is expected to experience a strong technical correction. The price could reach 2/8 Murray at 62,500 in the coming days.

Bitcoin has been heavily overbought for several days. The eagle indicator is at the limit of the signal which makes us think of a correction for the next few days.

If this scenario occurs, BTC will likely start a fall to the psychological level of $60,000.

We should avoid selling at current price levels as BTC could continue to rise. It is better to wait for a price accumulation or consolidation around the $73,000 level. Then, we could see it as a signal to sell. However, we should be very careful because of the strong volatility in Bitcoin.

Summary
Urgency
Analytic
Dimitrios Zappas
Start trade
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
  • 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