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Bitcoin technical analysis of May 3, 2021

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Mario Carotenuto
@trade60
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From the high of $ 64900 on April 14, BTC dropped to a low of $ 47000 on April 25 on April 25 and then made an intermediate high at $ 58550. This level represents the new resistance that must overcome. Therefore, a daily close above $ 58550 with a breakout of the trend line drawn would project BTC to the $ 61,000 area. A break of 56050 would push prices below the $ 54000 $ 52000 area. On the daily chart we are selling for $ 63500. on the 4H chart we had a long signal at 57100, with a stop at $ 56250.

Charts from tradingview.com

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This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.

THE OPINIONS EXPRESSED BY THE AUTHOR ARE PERSONAL ONLY AND FOR INFORMATION PURPOSES AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHERWISE ADVICE.

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