empty
Vous serez redirigé vers le site
www.instaforex.com
Les services qui y sont présentés sont mieux adaptés à votre emplacement
 
 
Ouvrir un compte

03.05.202116:24 Forex Analysis & Reviews: Trading Signal for BTC/USD, Bitcoin for May 03 - 04, 2021: Sell below $59,000

Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Exchange Rates 03.05.2021 analysis

The price of Bitcoin (BTC / USD) is approaching the psychological level of $60,000, ready to challenge its all-time high in the $64,000 zone. At this time of writing, it is trading at $58,872 approaching the 7/8 reversal zone of murray around $59,350.

The technical reading of the eagle indicator shows that Bitcoin is approaching the overbought zone. In view of the fact that it has made a double top at the 95 zone, this is a sign that there could be a downward correction in the coming days.

The outlook for Bitcoin has changed after breaking the $56,250 zone and the 200 EMA in 4-hour charts. This indicates that there could be a very strong movement to the $64,000 level, its previous high, only if it consolidates above $60,000.

On the contrary, a new return below $56,800, where the 200 EMA is located, will be considered a good selling opportunity with targets at $54,250 and $52,256.

The market sentiment for Bitcoin shows more than 89% of traders are buying BTC / USD. This is a sign that we are facing a consolidation phase and if it does not manage to break the psychological level of $60,000, an opposite movement could occur until the support out of $50,000.

Support and Resistance Levels For May 03 - 04, 2021

Resistance (1) $58,784

Resistance (2) $59,720

Resistance (3) $61,143

*******************

Support (1) $57,090

Support (2) $56,004

Support (3) $55,068

Dimitrios Zappas
Analytical expert of InstaForex
© 2007-2021

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
Vous quittez le site Internet d'INSTANT TRADING EU LTD www.instaforex.eu
Can't speak right now?
Ask your question in the chat.