empty
06.10.2021 07:20 AM
What's next after Bitcoin broke the level of $ 50,000?

Yesterday's bitcoin review identified an important level of $ 50,000 per coin. The closing of yesterday's trading occurred higher, which indicates the beginning of the implementation of a new phase of the upward movement.

If the price holds above the specified level today, then updating the high will be the only first stage towards the continuation of the bullish medium-term impulse. The next target level should be considered at $ 55,000. It is important to understand that testing this level will also require consideration of the reaction.

Bitcoin's growth rate is quite high, but it is still in the flat phase at the monthly level. Moreover, it should be noted that holding the price below the $ 55,000 mark will lead to the resumption of decline to the May lows, so purchases at current levels are not profitable.

This image is no longer relevant

Now, a lot of people would like to follow the trend and try to take the possible movement of $ 60,000, but there is no need to rush since the probability of a corrective rebound from the level of $ 55,000 is quite high. After a pullback, purchases will have a good risk/profit ratio, which is not present at current levels. The resistance zone is too strong above the September maximum.

Samanta Kruder,
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

How to Trade the GBP/USD Pair on July 3? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair plunged like a stone dropped from a skyscraper, prompting currency analysts to immediately search for the reasons

Paolo Greco 06:53 2025-07-03 UTC+2

How to Trade the EUR/USD Pair on July 3? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair attempted to begin a new round of downward correction, and the result of this attempt

Paolo Greco 06:33 2025-07-03 UTC+2

Trading Recommendations and Analysis for GBP/USD on July 3: Manipulation for the Sake of a New Rally?

On Wednesday, the GBP/USD currency pair crashed for no apparent reason. There was no major news in either the UK or the US that could have triggered a nearly 200-point

Paolo Greco 03:45 2025-07-03 UTC+2

Trading Recommendations and Analysis for EUR/USD on July 3: The Euro Holds Up, the Pound Plunges

On Wednesday, the EUR/USD currency pair declined slightly but generally showed no inclination to follow the British pound, which had crashed by nearly 200 points. The euro remained above

Paolo Greco 03:45 2025-07-03 UTC+2

GBP/USD: Strategy for the U.S. Session on July 2nd (Analysis of Morning Trades)

In my morning forecast, I focused on the 1.3713 level and planned to make trading decisions from there. Let's look at the 5-minute chart and examine what happened. Although

Miroslaw Bawulski 18:28 2025-07-02 UTC+2

EUR/USD: Strategy for the U.S. Session on July 2nd (Analysis of Morning Trades)

In my morning forecast, I highlighted the 1.1763 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and see what happened. The pair

Miroslaw Bawulski 18:25 2025-07-02 UTC+2

How to Trade the GBP/USD Pair on July 2? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair also showed signs of continuing its upward movement. Only during the U.S. trading session did the dollar

Paolo Greco 07:15 2025-07-02 UTC+2

How to Trade the EUR/USD Pair on July 2? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair once again traded with an upward bias and ended the day with gains. The new ascending

Paolo Greco 07:04 2025-07-02 UTC+2

Trading Recommendations and Analysis for GBP/USD on July 2: The Pound Is Preparing to Fall—And Trump to Step Down?

On Tuesday, the GBP/USD currency pair began a modest downward movement in the second half of the day but remained above the critical Kijun-sen line. Thus, for now, there

Paolo Greco 03:51 2025-07-02 UTC+2

Trading Recommendations and Analysis for EUR/USD on July 2: The Euro's "Finest Hour" Continues

The EUR/USD currency pair continued its upward movement on Tuesday, a rally that had resumed the previous Monday evening. Thus, completely ignoring the macroeconomic background, the market continues to sell

Paolo Greco 03:51 2025-07-02 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.