CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

81.76% of retail investor accounts lose money when trading CFDs with this provider.

Bitcoin | Price Analysis | Bullish Breakout or Fake Rally? | CRYPTO

Published: 26.04.2024
by Joseph Jeffriess

Hi, traders. Thanks for tuning in for today’s update. Today, we have broken down the current PA we are watching on BTC on its daily chart.

Pattern – HL building?
Support – 63,860, 60,675
Resistance – 66,710

Two things have presented themselves to us. Could we have a new HL forming after yesterday’s fightback? Could this then set off a new leg higher to test the top of the range?

Or two, could this be a false point of support, and will we see sellers make a new move at testing lower-range support?

Bitcoin: Thoughts and Analysis

Good trading.


* The information provided on this page are the opinions of the author and do not necessarily reflect the opinions of Eightcap and are not endorsed by Eightcap.

Any person acting on the information presented on this page does so entirely at their own risk. No representation or warranty is given as to the accuracy or completeness of this information. Any research provided does not have regard to any specific investment objectives, financial situation and needs of any specific person who may receive it.

Margin trading involves a high level of risk and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary.