FX.co ★ Trading Signal for BITCOIN for March 12 - 15, 2021: Sell Below $56,250

Bitcoin has tried several sessions to consolidate above $ 56,250, at this level the +1/8 line of murray is located, this level is acting as a strong resistance, which has prevented Bitcoin from reaching the $ 62,500 area +2/8 murray level.

The eagle indicator has been in the overbought zone for several days, and is forming a bearish divergence, the fall of the BTC could occur only if it trades below $ 56,250, with targets at the bottom of the uptrend channel.

At the bottom of the 4-hour bullish trend channel, there could be a technical rebound, around $ 52,550, at this level we recommend buying with targets at $ 56,250, or higher to $ 62,500.

A break below the psychological level of $ 50,000 could see a drop to the zone of $30,000 in the medium term.

Support And Resistance Levels For March 12 - 15, 2021

Resistance (1) $56,797

Resistance (2) $58,226

Resistance (3) $60,226

Support (1) $53,426

Support (2) $51,742

Support (3) $49,137