Trading plan for Bitcoin for March 30, 2021 - Kakiforex.com - Financial Market Media No. 1 in the World Trading plan for Bitcoin for March 30, 2021 Trading plan for Bitcoin for March 30, 2021

March 30, 2021

Trading plan for Bitcoin for March 30, 2021

 Bitcoin remains poised to print yet another high above $61,780 levels in the next few trading sessions but might be facing short term resistance around $60,000 levels for now. The crypto might e preparing for a short term decline towards $52,000/53,000 levels, before resuming its rally towards $62,000 and higher. A meaningful correction can be expected thereafter.


Bitcoin is seen to be trading around $59,000 levels at this point in writing and it might face short term resistance around $59,000/60,000 levels, going forward. Also note that the crypto is still testing the back side of support turned resistance trend line. A short term drop back toward $52,000 levels remain high probability in the next few trading sessions. Only a break below $50,000, would suggest deeper correction towards $43,000 and beyond.


The overall uptrend remains intact for now as immediate support is seen at $50,000, followed by $43,000; while resistance is seen around $62,000 levels respectively. Aggressive traders might be inclined to take benefit of the short term decline towards $52,000 at least.


Trading plan:


Aggressive traders remain short @ 58,000/59,000, stop @ 62,000, target @ 52,000/53,000.


Then turn long with stop @ 43,000, target above @ 62,000