Bitcoin

Bitcoin forecast

Current trend, After a failed attempt to consolidate above the level of 3593.75 (Murray [3/8]), Bitcoin was corrected to the area of ​​3437.50 (Murray [2/8]), corresponding to the middle line of the Bollinger Bands. Currently there is a low trading activity. Bollinger bands are directed sideways, confirming the relative calmness in the market. MACD volumes are slowly growing in the negative zone, indicating the power of sellers. Stochastic is directed downwards.

In the current conditions, the course is most likely to move within the range of 3281.25–3593.75. If sellers manage to lower the rate below the level of 3437.50, the next target of the fall will be the lower limit of the range (3281.25). If buyers manage to raise the rate above 3593.75, then it will be possible to rise to the level of 3750.00 (Murray [4/8]), where there is a rather strong resistance zone.

Support and resistance

Support levels: 3437.50, 3281.25, 3125.00.

Resistance levels: 3593.75, 3750.00, 3906.25.

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Trading tips

Short positions can be opened below 3437.50 with targets in the area of ​​3281.25 and a stop loss at 3480.00.

Long positions will become relevant above the level of 3593.75 with targets in the region of 3750.00 and a stop loss at 3550.00.

 

Scenario

Timeframe Intraday
Recommendation SELL STOP
Entry Point 3430.00
Take Profit 3281.25
Stop Loss 3480.00
Key Levels 3125.00, 3281.25, 3437.50, 3593.75, 3750.00, 3906.25

 

Alternative scenario

 

Recommendation BUY STOP
Entry Point 3600.00
Take Profit 3750.00
Stop Loss 3550.00
Key Levels 3125.00, 3281.25, 3437.50, 3593.75, 3750.00, 3906.25

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