FX.co ★ Trading plan for Bitcoin on November 3, 2021

Bitcoin has formed a flat range between the levels of $ 60,000 and $ 65,000. Trading in this range is most profitable in the first half of the month.

It is worth looking for entry points into the market from the borders of the flat until there are significant purchases or sales of the instrument. Today, Bitcoin is trading at the upper limit, so it is worth considering a false breakdown pattern of yesterday's high. The sell target will be the level of $ 60,000. Flat trading may be delayed until the next quarterly expiration of futures in December.

In order for the upward impulse to resume, then it is necessary to close one of the trading days above the level of $ 65,000. This will indicate a weakening of the range of limit sellers, which will allow us to see the update of the annual high in a short time frame. This pattern is promising in the medium term. As for the level of intraday trading, there is no option to buy the instrument yet.