FX.co ★ Trading plan for Bitcoin for July 13, 2021

Technical outlook:

Bitcoin continues to trade in a range between $33,000 and $34,500 since last few trading sessions. It continues to provide range trading opportunities for traders as they continue to buy around $32,800/33,000 and take profits close to $34,000/500 levels respectively. It is still advisable to continue buying close to $33,000 and take short term profits close to $34,000/500 levels respectively.

Bitcoin is seen to be trading around $33,000 levels at this point in writing and is expected to push through $34,500 at least from here. Immediate support is seen at $28,000 mark while resistance comes in around $36,000, followed by $42,600 levels respectively. The crypto is expected to reach at least $43,000 if prices are able to push through $36,000 levels respectively.

On the flip side, if Bitcoin breaks below $28,500, bears might want to drag further low towards $26,500 and $19,000 levels respectively, going forward. Trading bias remains on the north side for now and bulls might be preparing to rally towards $36,000 levels at least. Short term target can be projected towards $43,000 levels at least.

Trading plan:

Remain long for now, stop @ 28,000, target @ 43,000.

Good luck!