The BITCOIN this morning of the American session in 4-hour charts is trading above the SMA of 21 and above +1/8 of Murray with a strong bullish trend.
Goldman Sachs is preparing to offer Bitcoin to its customers, just as PayPal allows payments with BTC, many more companies, are allowing cryptocurrencies in their payment portfolio, which increases the demand for BTC.
On the technical level we can see that the BTC in the last 4-hour candles has been trading between two converging trend lines that form a symmetrical triangle, indicating indecision between traders.
As Bitcoin is in a strong uptrend, we can expect a bullish break of the triangle, with targets at +2/8 from Murray, around 62,500.
Conversely, a break below the lower limit of the triangle, we expect a correction of the BTC with targets EMA 200 located at 54,214
The eagle indicator is showing a bullish signal, with targets towards 62,500, so we recommend buying the BTC as long as it remains above 57,000.
Support And Resistance Levels For April 01 - 02, 2021
Resistance (1) $60,211
Resistance (2) $61,519
Resistance (3) $62,950
Support (1) $57,212
Support (2) $55,522
Support (3) $54,214
