The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Bitcoin is trading at $55,466 level at the time of writing, higher versus $53,221 today's low. Unfortunately, the current rebound could be only a temporary one before the price drops deeper in the short-term.
BTC/USD failed to stabilize above the $60,000 psychological level and now is into a corrective phase. The decline may continue if it stabilizes under $56,000. The price could come down to reach and retest the near-term uptrend line.
The corrective phase, retreat, is natural after the most recent swing higher. BTC/USD increased as much as $61,788 level setting a new all-time high. It is normal that some traders and investors wanted to step out pushing the rate down.
The outlook is bullish as BTC/USD is trading within an up channel. It has failed to stabilize above $58,367 and now is trading back below the Pivot Point ($56,704). The immediate critical support is seen at the uptrend line and around the S1 ($51,585).
The price could approach and reach these downside obstacles and only a false breakdown, bullish engulfing, or any other reversal pattern on these support levels could signal that the correction is over.
BTC/USD's further growth will be validated by a valid breakout above the minor red descending pitchfork. Selling right now is risky as long as the price is located above the uptrend line.
Buy a false breakdown with great separation below the S1 ($51,585) and through the uptrend line or a major bullish engulfing.
Sell a valid breakdown through the uptrend line or a false breakout with a huge separation above the descending pitchfork's upper median line (uml).
*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।
