empty
15.11.2021 03:03 PM
BITCOIN: Choosing the direction of trade

Bitcoin is testing the important resistance level of 65,941 today. This mark is the 50% retracement level of the last fall.

If the closing of today's trading occurs below the specified level, then the target of the fall will again become the support zone with a fair price of $63,324. This model will keep Bitcoin in the accumulation zone, and the engulfing candle formed on November 10 will remain the defining one for Bitcoin this week.

This image is no longer relevant

It is important to understand that buying bitcoin when returning to the $63,324 zone remains in the foreground. The likelihood that the decline will return to $59,000 is below 40%.

The second interesting model for termination will be the growth of bitcoin to the level of 67,648. This level of the market maker is already marked by the presence of pending orders to sell the coin, so its retest may become decisive in the medium term.

From the above, we can conclude that the zone between levels 63,324 and 67,648 will remain relevant in the first half of this week.

Samanta Kruder,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD: Trading Plan for the U.S. Session on May 6th (Review of Morning Trades)

In my morning forecast, I drew attention to the 1.3309 level and planned to make market entry decisions based on it. Let's take a look at the 5-minute chart

Miroslaw Bawulski 18:52 2025-05-06 UTC+2

EUR/USD: Trading Plan for the U.S. Session on May 6th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.1346 level and planned to make trading decisions based on it. Let's take a look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 18:49 2025-05-06 UTC+2

How to Trade the GBP/USD Pair on May 6? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD On Monday, the GBP/USD pair continued to trade strictly sideways. Although we don't see a clearly defined flat range for the pound

Paolo Greco 05:40 2025-05-06 UTC+2

How to Trade the EUR/USD Pair on May 6? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD On Monday, the EUR/USD currency pair once again traded both upward and downward, confirming the presence of a flat market. The price

Paolo Greco 05:40 2025-05-06 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 6: Trump vs. ISM

On Monday, the GBP/USD currency pair intended to launch a new wave of the upward trend that has been ongoing for several months. However, in the second half

Paolo Greco 03:32 2025-05-06 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 6: Surprising and Unbelievable

On Monday, the EUR/USD currency pair resumed its favorite activity right from the morning—moving north. It was revealed that after a three-week pause, Donald Trump decided to bring

Paolo Greco 03:32 2025-05-06 UTC+2

GBP/USD: Trading Plan for the U.S. Session on May 5th (Review of Morning Trades)

In my morning forecast, I focused on the 1.3324 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 17:52 2025-05-05 UTC+2

EUR/USD: Trading Plan for the U.S. Session on May 5th (Review of Morning Trades)

In my morning forecast, I focused on the 1.1346 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and see what happened

Miroslaw Bawulski 17:48 2025-05-05 UTC+2

Trade Idea for EUR/USD to Fall

Good day, fellow traders! I will present you with a trade idea for EUR/USD. After Friday's strong bearish impulse, the instrument transitioned into a corrective upward move

Andrey Shevchenko 08:55 2025-05-05 UTC+2

Trade Idea for GBP/USD to Fall

Good day, fellow traders! I am presenting you with a trade idea for GBP/USD. After Friday's strong short-side initiative, the instrument has transitioned into a corrective upward movement

Andrey Shevchenko 08:55 2025-05-05 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.