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Technical outlook:
Bitcoin might have hit resistance $48,200/300 levels and could be preparing for a pullback towards $33,500 levels at least, in the coming sessions. Also note that the recent rally from $28,000 through $48,200 is accompanied by RSI divergence on the daily chart as discussed yesterday. This phenomenon also suggests for a potential bearish reversal ahead. The uptrend remains intact until prices stay on in the buy zone of support trend line shown here. Immediate resistance is seen at $48,300 while support is fixed at $28,000 levels respectively. Bitcoin is seen to be trading sideways around $46,400/600 levels since yesterday, and is expected to produce a pullback towards $33,500 at least, if not further. The recent boundary that is being worked upon is between $8,900 and $48,300 levels respectively. The fibonacci 0.382 retracement of above rally is seen to be passing through $33,500 levels as depicted on chart here. A minimum correction to those levels might produce a bullish reaction going forward.
Trading plan:
Remain flat for now, look to buy around $33,500.
Good luck!
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
