The Bitcoin in the morning of the US session is trading above the 21 SMA and within the trend channel on 4-hour charts, targeting 62,500, the +2/8 murray zone.
A few hours ago, we saw that the BTC, has bounced off the bottom of the bullish channel, there is also the SMA of 21 around 57,660, while it keeps consolidating above the SMA of 21, a bullish move is expected with targets at 60,250 and 62,500.
On the contrary, a break below the 21 SMA and the bullish trend channel, a fall is expected to the 200 EMA located at 53370, and if the pressure continues to the 8/8 murray zone of the psychological level of 50,000.
The key is to keep an eye out for Bitcoin to trade above the 21 SMA, a close below could change the bullish outlook for BTC, and there may be a bearish correction.
We recommend continuing to buy the Bitcoin above 576,60.
Support And Resistance Levels For March 31 - April 01, 2021
Resistance (1) $59,709
Resistance (2) $60,777
Resistance (3) $62,093
Support (1) $57,325
Support (2) $56,009
Support (3) $54,887
