Trading plan for Bitcoin for May 20, 2021
May 20, 2021 11:25 amVideo
Latest News
- Energy in Focus: What news awaits investors on Wall Street April 15, 2024
- Forecast for EUR/USD on April 15, 2024 April 15, 2024
- Forecast for GBP/USD on April 15, 2024 April 15, 2024
- Forecast for USD/JPY on April 15, 2024 April 15, 2024
- Outlook for EUR/USD on April 15. The euro is already falling for no apparent reason! April 15, 2024
- Trading plan for GBP/USD on April 15. Simple tips for beginners April 15, 2024
- Trading plan for EUR/USD on April 15. Simple tips for beginners April 15, 2024
- Euro will return to parity April 12, 2024
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
- EUR/USD. Analysis for April 12th. The euro falls down under the pressure of the news background April 12, 2024
- GBP/USD. Analysis for April 12th. A significant event: the pound fell below the 25-figure April 12, 2024
- Trading Signals for EUR/USD for April 12-15, 2024: buy above 1.0620 (-2/8 Murray – rebound) April 12, 2024
- GBP/USD: trading plan for the US session on April 12th (analysis of morning deals). The pound followed the euro April 12, 2024
- EUR/USD: trading plan for the US session on April 12th (analysis of morning deals). The euro continues to fall April 12, 2024
- EUR/USD and GBP/USD: Technical analysis on April 12 April 12, 2024
- EUR/USD: Dovish signals from the ECB and rising PPI April 12, 2024
- EUR/USD. April 12th. ECB meeting: confidence in rate cut increased in June April 12, 2024
- GBP/USD. April 12th. British economy continues to stagnate April 12, 2024
- Analysis and trading tips for EUR/USD on April 12 (US session) April 12, 2024
- Analysis and trading tips for USD/JPY on April 12 (US session) April 12, 2024
Technical outlook:
Bitcoin had extended its drop yesterday through $30,000 levels, while fibonacci extensions were pointing towards $37,000 levels as discussed earlier. Please note that the crypto has bounced right off the trend line support, indicating that bulls might be back in control. Also note that previous support around $28,500 remained intact.
Bitcoin traders might prepare to initiate fresh long positions between $36,000-39,000 zone with risk just below $28,000 mark. The upside potential now remains above $65,000 in the next few trading sessions. The crypto is seen to be trading around $39,900 levels at this point in writing and is expected to resume rally from here on.
Immediate support is just around $28,800; while resistance is seen at $60,000, followed by $65,000 levels respectively. If bulls are back in control, Bitcoin will stay above $30,000 mark and continue higher above $65,000 levels, going forward.
Trading plan:
Remain long, stop @ 28,000, target @ 65,000 plus.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: