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12.03.202109:16 Forex Analysis & Reviews: Technical analysis of Bitcoin/USD for March 12, 2021

Exchange Rates 12.03.2021 analysis

After break above the S/H/S bottom neckline at 52,223 Bitcoin is re-testing the former peak at 58,354. We expect this resistance will be able to hold back Bitcoins advance for a temporary correction closer to 53,731 before the next push higher through resistance at 58,354 for a rally towards the S/H/S bottom target at 61,480 and above.

Longer-term we are looking for even higher levels at a continuation higher to resistance in the 67,184 - 67,981 area.

Trading recommendation:

Buy Bitcoin near 53,731 for the next push higher to 67,184 - 67,981 area.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Torben Melsted,
Analytical expert of InstaSpot
© 2007-2025
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