Bitcoin: technical analysis

Current trend, Due to the low trading activity, Bitcoin quotes are moving within a narrow channel of 4018.20–3715.50. Currently, the rate is falling toward a fairly strong support level of 3750.00 (Murrey [0/8]). Upon reaching this level, a rebound and return to the upper border of the range are possible. Breakdown and consolidation below the level of 3750.00 will lead to a fall in the area of ​​3593.75–3437.50 (Murrey [–1/8]–[–2/8]).

Technical indicators reflect the maintenance of a moderate downward trend. Bollinger bands and Stochastic lines are directed downwards. MACD volumes are stable in the negative zone and keep a sell signal.

Support and resistance

Resistance levels: 3906.25, 4062.50, 4218.75.

Support levels: 3750.00, 3593.75, 3437.50.


Trading tips

Short positions can be opened below the level of 3750.00 with the targets around ​​3593.75 and stop loss 3828.00

Long positions can be opened above the level of 3906.05 with the targets near 4062.50 and stop loss 3854.00.



Timeframe Intraday
Recommendation SELL STOP
Entry Point 3740.00
Take Profit 3593.75
Stop Loss 3828.00
Key Levels 3437.50, 3593.75, 3750.00, 3906.25, 4062.50, 4218.75


Alternative scenario


Recommendation BUY STOP
Entry Point 3910.00
Take Profit 4062.50
Stop Loss 3854.00
Key Levels 3437.50, 3593.75, 3750.00, 3906.25, 4062.50, 4218.75

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