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The Bitcoin BTC / USD this weekend manages to climb above 60,000 and reached 61,153 its highest level in almost a month.
Business Today Magazine said that Bitcoin's remarkable gains this year have been fueled by its widespread acceptance as an investment and means of payment, accompanied by the flood of retail cash in stocks, exchange-traded funds and other risky assets.
On the technical level in the 4-hour charts we can see that Bitcoin remains with a strong uptrend, above Murray's 7/8 and above the 200 EMA.
The critical level is located at 59,300, if this level breaks there could be a correction of the BTC to the support zone of the 200 EMA around 56250.
Given that it is overbought, our recommendation is to wait for the break at 59300, in order to sell, with targets at 56250, as a break below the 21 SMA in 4-hour charts could result in a technical correction.
Support And Resistance Levels For April 12 - 13, 2021
Resistance (1) $60,703
Resistance (2) $61,767
Resistance (3) $62,876
Support (1) $58,532
Support (2) $57,426
Support (3) $56,362
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