Bitcoin (BTC) has a volatile week ahead, with notable short-term technical indicators in its price chart. A prominent Bitcoin trading analyst revealed his plan to trade BTC between price targets from $51,500 to $61,300.

CrypNuevo has drawn two possible scenarios for trading Bitcoin this week, considering multiple indicators and sharing the plan on X. In particular, the trader highlighted candlestick wicks in the daily and four-hour charts, together with a liquidation heatmap.

Finbold has previously reported these two strategies from CrypNuevo, which have a high accuracy rate for weekly trades. Moreover, the analyst also considered the 50-hour exponential moving average (1H 50-EMA) as a key low-time frame resistance.

This analysis suggests opportunities for either opening long positions or shorting Bitcoin, depending on its development. Nevertheless, BTC traders must understand that cryptocurrency price predictions are challenging even for expert analysts and properly manage their risks.

Moreover, CrypNuevo eyes the $61,300 price as his next likely target to close possible longs and realize the profit. This is because there is also significant liquidity at this level, and the trader still believes the $51,500 will inevitably appear after what he called a “run for liquidity.”

Before that, the Bitcoin analyst plans to add more fuel to his long if BTC retests the 50-hour EMA resistance.

Following this plan requires discipline and, yet, may not render the expected results, as cryptocurrencies are highly unpredictable assets. Investors should remain cautious and understand their risk profile before mirroring experts’ trading plans.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.