Trading plan for Bitcoin for March 25, 2021 - Kakiforex.com - Financial Market Media No. 1 in the World Trading plan for Bitcoin for March 25, 2021 Trading plan for Bitcoin for March 25, 2021
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March 25, 2021

Trading plan for Bitcoin for March 25, 2021

 Bitcoin bulls might be back after printing lows around $51,500 mark today, and are looking poised to push higher above $61,780 mark to complete the overall trend that had begun since $3,850 lows in March 2020. Probability of another high remains until prices stay above $43,000 lows, but please kindly note that the crypto might produce a meaningful corrective drop thereafter.


Bitcoin is seen to be trading at day's high around $52,700 levels at this point in writing as bulls remain poised to push higher above $61,780 in the near term. Also note that a sideways consolidation between $45,000 and $55,000 remains possible before breaking higher. Immediate support comes in at $43,000 mark, while resistance is intact around $62,000 levels respectively.


The larger trend from $3,850 lows registered in March 2020 might be close to terminating/completing with one more high above $61,780 levels. A pullback thereafter could drag prices back towards $40,000/42,000 levels before resuming the uptrend. If prices drop below $43,000 from here, the next support is seen towards $37,000 levels, going forward.


Trading plan:


Remain long with stop @ $43,000, target above $62000.