empty
06.08.2021 02:48 PM
BTC analysis for August 06,.2021 - Symmetrical triangle in creation

Technical analysis:

This image is no longer relevant

BTC has been trading sideways at the price fo $40,600 and watching for the breakout will be good strategy under current condition.

Trading recommendation:

Watch for the breakout of the symmetrical triangle pattern in the background to confirm further direction.

In case of the upside breakout of the resistance at $41,350, watch for buying with target at $42,900

In case of the downside breakout of support at $39,900, watch for selling with target at $38,400.

Summary
Urgency
Analytic
Petar Jacimovic
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Solana has the potential to weaken down to its nearest support level today. Friday, October 31, 2025.

[Solana] – [Friday, October 31, 2025] Uniswap is expected to continue its decline toward the nearest support level. Although the RSI is positioned in the Neutral-Bullish zone, the ongoing Death

Arief Makmur 06:59 2025-10-31 UTC+2

It seems that the cryptocurrency Uniswap will continue its decline today. Friday, October 31, 2025.

[Uniswap] – [Friday, October 31, 2025] Although the RSI is in the Neutral-Bullish zone, but the position of the Death Cross between the two EMAs is expected to lead Uniswap

Arief Makmur 06:59 2025-10-31 UTC+2

Cryptocurrency Trading Recommendations for October 30

Bitcoin has slid to around $108,000, and Ethereum has dropped below $3,900, which undermines the bullish market expectations observed earlier this week. Yesterday, as expected, the Federal Open Market Committee

Miroslaw Bawulski 08:04 2025-10-30 UTC+2

Germany considers establishing Bitcoin reserve

As Bitcoin prepares for an anticipated surge in volatility following the Federal Reserve's decision on interest rates, reports have surfaced indicating that Germany is seriously contemplating the creation

Jakub Novak 16:13 2025-10-29 UTC+2

Trading Recommendations for the Cryptocurrency Market on October 29

Bitcoin has slipped to around $112,500, but the chances for growth remain. Ethereum has also traded temporarily below $4,000 but has since reclaimed that level. Volatility in the cryptocurrency market

Miroslaw Bawulski 07:51 2025-10-29 UTC+2

Crypto market still facing turbulence

Following yesterday's significant rise in Bitcoin and Ethereum, which marked the largest gains in recent weeks, there has been a notable correction that highlights the challenging situation in which market

Jakub Novak 09:25 2025-10-28 UTC+2

Trading Recommendations for the Cryptocurrency Market on October 28

After breaching a significant resistance level around $116,400, Bitcoin retraced to $114,000, with further upside potential. Ethereum also corrected, but it remained above $4,000, which is quite favorable. While

Miroslaw Bawulski 07:51 2025-10-28 UTC+2

Trading Recommendations for the Cryptocurrency Market on October 27

Bitcoin has returned to the vicinity of $116,000, signaling an upward move. Ethereum is also trying to stabilize above $4,200. The cryptocurrency market has bounced back after news that

Miroslaw Bawulski 07:58 2025-10-27 UTC+2

Bitcoin: another attempt to recover

Yesterday, Bitcoin and Ethereum were in the hands of buyers, though at this point the momentum remains too weak to confirm the continuation of a full-fledged bull market. Active Bitcoin

Jakub Novak 11:17 2025-10-24 UTC+2

Cryptocurrency Market Trading Recommendations for October 24

Bitcoin has once again attempted to consolidate above the $110,000 level and, at the time of writing, is trading at $111,400. If it breaks above this range, we will likely

Miroslaw Bawulski 08:55 2025-10-24 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.