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Bitcoin price is bearish as the market found resistance around the $40,000 mark overnight and could not move any higher. Therefore, we expect BTC/USD to move lower over the next 24 hours to attempt to set another lower low.
BTC/USD opened at $38,850 today after a slight bullish close yesterday took the market to the $40,000 mark. Since further upside was not seen earlier today, we can assume that another lower high is set, and the market will retrace further over the next 24 hours.
On the 4-hour chart, we can see the Bitcoin price action failing to move above the $40,000 mark overnight. The overall market still continues to retrace from the all-time high of $65,000, set on the 14th of April. After an initial retracement to the $47,000 mark, BTC/USD consolidated for several days below $59,000 resistance.
After a brief move to retest the $42,000 previous support as a resistance, the market moved lower once again. Yesterday a strong higher low was set at the $32,000 indicating that bears are slowly losing control with the formation of bullish divergence support this stance.
*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।
