empty
 
 
05.09.2024 01:33 PM
Trading Signals for BITCOIN (BTC/USD) for September 5-9, 2024: sell below $58,080 (2/8 Murray - 21 SMA)

This image is no longer relevant

Bitcoin is trading around 57,894 within the downtrend channel formed since August 30 and within the main downtrend channel formed since August 22. A strong bearish signal is observed.

Yesterday during the American session, Bitcoin (BTC/USD) tried to break the strong resistance at 58,300. The area that converges with the top of the bearish channel prevented it from a further rise.

Bitcoin is likely to resume its bearish cycle in the next few hours. The price could fall to 2/8 of Murray located at 56,250 and finally, it could reach the bottom of the bearish trend channel around 55,200.

Bitcoin is under bearish pressure. The crypto could likely reach the psychological level of $50,000 in the next few days. The key is that the BTC price remains below the 200 EMA located around 60,323.

Should Bitcoin make a sharp break above the downtrend channel and above the 21 SMA, we could expect a continuation of the bullish move and the crypto could reach 3/8 of Murray at 59,375 and could finally reach the 200 EMA around 60,326.

In the short term, the outlook remains negative for Bitcoin as long as the price consolidates below $62,500. So, any technical bounce could be seen as an opportunity to continue selling.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $3000 más!
    ¡En Septiembre, sorteamos $3000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback