For Traders

Analytical Reviews

Crypto-currencies

31.03.202311:47 Forex Analysis & Reviews: Bitcoin remains trapped inside short-term trading range.

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.

Blue lines- trading range

Bitcoin is trading around $27,825 after getting rejected once again at the upper trading range boundary. There is no clear trend in the near term as price is mostly moving sideways between $29,000 and $26,700. Price is now making lower lows and lower highs on an intraday basis. Price seems vulnerable to a move towards the lower range boundary where we find short-term support. Traders better be patient and cautious.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2024

Back to the list

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