empty
11.12.2024 04:59 PM
Trading Signals for BITCOIN (BTC/USD) for December 11-13, 2024: sell below $99,500 (21 SMA - 8/8 Murray)

This image is no longer relevant

Early in the American session, Bitcoin (BTC/USD) is trading around 98,472, above the 21 SMA, and below the bearish trend channel forming since December 3, showing some recovery.

Bitcoin has always moved within trend channels. So, we believe that there could be a technical correction below 99,500. Thus, the price could reach the 96,400 area.

Technically, we expect a range of price movements between $100,000 and $95,000. Once a sharp break of the bearish channel occurs, then BTC could reach +1/8 Murray located at 106,250.

On the other hand, a sharp break of the symmetrical triangle pattern and consolidation below $95,000 could lead to a drop towards the 200 EMA located at 92,131. The final target to reach is $87,500 around 6/8 of Murray.

Technically, Bitcoin should correct 20% to 30% from the current price level. So, we believe that Bitcoin could reach the levels of 80,000 or $70,000 in the next few weeks or next year.

Our trading plan for the next few days is to sell Bitcoin within the symmetrical triangle pattern or below the psychological level of $100,000 with a target at $92,000. We may buy above this area with a target at 106,250.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forecast for EUR/USD on May 28, 2025

On Tuesday, the EUR/USD pair consolidated below the 1.1374–1.1380 zone and then rebounded from it from below. This confirms the continuation of the downward move, and a close below

Samir Klishi 11:32 2025-05-28 UTC+2

Forex forecast 28/05/2025: NZD/USD, EUR/USD, USD/JPY, Gold, and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:44 2025-05-28 UTC+2

GBP/USD – May 28th: How Will the FOMC Minutes Influence the Market?

On the hourly chart, the GBP/USD pair continued its decline on Tuesday and consolidated below the 161.8% Fibonacci retracement level at 1.3520. This means that the downtrend could continue today

Samir Klishi 09:54 2025-05-28 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday May 28, 2025.

With the appearance of Convergence between the movement of the AUD/JPY currency pair against the Stochastic Oscillator indicator and also confirmed by its price movement which is moving above

Arief Makmur 08:39 2025-05-28 UTC+2

EUR/USD Forecast for May 28, 2025

On Tuesday, the euro underwent a technical correction from the resistance level 1.1420. On the same day, gold declined by 1.14%, WTI crude oil by 0.44%, and government bond yields

Laurie Bailey 05:08 2025-05-28 UTC+2

GBP/USD Forecast for May 28, 2025

On Tuesday, the British pound hesitated to enter the narrow wedge between the price channel line and the target level 1.3635. In the context of a 0.42% strengthening

Laurie Bailey 05:08 2025-05-28 UTC+2

USD/JPY Forecast for May 28, 2025

Yesterday, the USD/JPY pair posted solid growth—0.90% or 149 pips—on the back of a 0.42% strengthening of the U.S. dollar index. As a result, the price is now trading above

Laurie Bailey 05:08 2025-05-28 UTC+2

EUR/JPY. Current Market Situation and Forecast

Today, the EUR/JPY pair is attracting buyers after declining during the Asian session to the key 162.00 level. From a technical standpoint, oscillators on both the hourly and daily charts

Irina Yanina 19:28 2025-05-27 UTC+2

Trading Signals for GOLD (XAU/USD) for May 27-29, 2025: buy above $3,281 (6/8 Murray - 21 SMA)

On the other hand, if gold maintains bullish momentum, the price could break above resistance at 3,330, and then we could expect a new bullish sequence, potentially reaching 3,437

Dimitrios Zappas 18:33 2025-05-27 UTC+2

Trading Signals for EUR/USD for May 27-29: sell below 1.1350 (21 SMA - 7/8 Murray)

If the euro breaks the uptrend channel, we could expect a drop towards the 200 EMA located at 1.1230 and could even reach the gap it left

Dimitrios Zappas 18:31 2025-05-27 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.