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25.02.202106:40 Forex Analysis & Reviews: Bitcoin has returned to the buying zone

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The test of the limit buyers zone 48200-46930 stopped the coin's fall. An accumulation zone has formed, the boundaries of which are the extremes of the current week. Working within this flat will allow you to search for buy patterns from the buyers' zone, which we have defined at levels 48200-46930. The search for a sell pattern is possible if bitcoin again tests the mark of $ 55,000. The specified zone of limit buyers is also a break-even zone, so purchases in this range can be held until the formation of a reversal model of the medium-term order or the continuation of growth and the update of the annual maximum.

Exchange Rates 25.02.2021 analysis

The reversal pattern will become relevant if the closing of one or two daily candles occurs below the level of 46930. This will open the way for bitcoin to decline to $ 40,000 per coin. Until this happens, the probability of updating the annual maximum is 75%. This indicates the possibility of holding already opened purchases and opening new ones when testing the zone of limit buyers.

Samanta Kruder
Analytical expert of InstaForex
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