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04.05.2022: Forex Analysis & Reviews: Trading plan for Bitcoin for May 04, 2022
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Forex forecast 11/12/2025: EUR/USD, USD/JPY, GBP/USD, SP500, Oil, Gold and Bitcoin
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Forex forecast 04/12/2025: EUR/USD, USD/JPY, GBP/USD, SP500, Gold and Bitcoin
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Forex forecast 25/11/2025: EUR/USD, USD/JPY, GBP/USD, SP500, Gold and Bitcoin
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Forex forecast 24/11/2025: EUR/USD, USD/JPY, GBP/USD, USD/CAD, USD/CHF, Gold and Bitcoin
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Forex forecast 20/11/2025: EUR/USD, USD/JPY, GBP/USD, SP500, USDX, Gold and Bitcoin
2025-11-20 UTC+3
Forex forecast 19/11/2025: EUR/USD, USD/JPY, GBP/USD, USDX, Gold and Bitcoin
2025-11-19 UTC+3
Forex forecast 18/11/2025: EUR/USD, USD/JPY, GBP/USD, Gold and Bitcoin
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Technical outlook:

Bitcoin dropped through the $37,500 low on Tuesday before finding support again. The crypto has yet again tested its channel support and bounced back strong as it is seen to be trading close to the $39,000 mark at this point in writing. Bulls are looking poised to hold prices above the $34,000 mark and push higher through $50,000-55,000 zone going forward.

Bitcoin is facing first formidable resistance at around $43,000, followed by $48,000, while support comes in around $34,000, followed by $33,000 respectively. A break above $43000 will confirm that a meaningful low is in place and that bulls are back in control. Please note that channel resistance is now passing through the $52,000 mark.

Bitcoin is ideally looking to produce a three-wave corrective rally towards the $50,000-55,000 zone since the $33,000 low. Also, note that the probability still remains for bulls to push through all-time highs if prices break above the $61,000 mark consistently. Traders are looking to initiate fresh positions from the current levels ($39,000).

Trading plan:

Potential rally through $50,000 against $33,000

Good luck!

*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
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