Trading plan for Bitcoin for March 31, 2021 - Kakiforex | Forex markets for the smart money. Trading plan for Bitcoin for March 31, 2021 Trading plan for Bitcoin for March 31, 2021

April 1, 2021

Trading plan for Bitcoin for March 31, 2021

Bitcoin bulls might remain poised to push through fresh highs above $61,780 mark in the next several trading sessions. For the above bullish structure to stay intact, prices must remain above $50,000 mark, going forward. The crypto might produce a corrective drop towards $52,000/53,000 levels, as discussed yesterday before turning higher again.


Bitcoin is seen to be trading around $58,100 levels at this point in writing ad is expected to drop towards $52,000 mark in the near term. Bulls might be back in control after that and resume its rally towards $62,000 and $65,000 mark. Immediate support is $43,000; while resistance is fixed at $62,000 levels respectively. Bulls remain poised to push through resistance in the next few weeks time.


The religious uptrend that had begun since $3,850 lows in March 2020, remains intact for now. Bitcoin might still have some steam left to print higher highs around $62,000/65,000 zone, before giving in to bears and resuming lower again. Traders might be prepared to buy around $52,000/53,000 zone with risk around $43,000.


Trading plan:


Aggressive traders remain short with stop @ 62,000 and target @53,000


Then turn bullish with stop @ 43,000, target @ 63,000 and 65,000.