empty
 
 
22.10.2021 11:50 AM
Trading plan for Bitcoin for October 22, 2021

This image is no longer relevant

Technical outlook:

Bitcoin hit an all-time high around $67,000 levels before pulling back on Thursday. The minimum projected target is achieved and traders might be preparing to book full profits here. The crypto has rallied since printing $28,600 lows in a fresh rising channel as displayed here on the daily chart. Now, the probability remains high for a pullback towards $56,000 and up to $49,000 levels before resuming an uptrend again.

Bitcoin has produced an engulfing bearish candlestick pattern on the daily chart indicating a potential reversal ahead. The Fibonacci 0.618 retracement of the recent rally between $40,000 and $67,000 is passing through the $48500-49000 mark. It could find the next bullish reversal there and resume an uptrend towards $75,000 levels.

On the flip side, if prices break below $40,000 initial support, bitcoin may drag further towards the $42,000 mark. Bulls could come back in control until prices stay above $28,600 levels. Traders might remain aside for a while and allow prices to correct lower towards $56,000 at least before initiating fresh long positions.

Trading plan:

Target achieved. Remain flat for now.

Good luck!

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $8000 lebih banyak!
    Pada Maret kami mengundi $8000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback