Bitcoin Price Action Analysis - 2021.04.21
Yesterday price action (2021.04.20):
- Support at 53.3k was tested successfully, BTC bounced back
- An uptrend has continued since then
Today forecast:
- BTC is likely to make a two-legged pullback to the range of 54.6k - 55.5k (the first leg has finished)
- Then, BTC is likely to approach and test the resistance at 57.5k
Strategy:
- Wait until BTC finishes the second-legged pullback and buy inside the current accumulation zone (53 - 57.5k)
- Wait until BTC breaks through the resistance at 57.5k and buy at the pullback to this level
- Support at 53.3k was tested successfully, BTC bounced back
- An uptrend has continued since then
Today forecast:
- BTC is likely to make a two-legged pullback to the range of 54.6k - 55.5k (the first leg has finished)
- Then, BTC is likely to approach and test the resistance at 57.5k
Strategy:
- Wait until BTC finishes the second-legged pullback and buy inside the current accumulation zone (53 - 57.5k)
- Wait until BTC breaks through the resistance at 57.5k and buy at the pullback to this level
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