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Technical outlook:
Bitcoin has reversed sharply from sub $45,000 to $42,100 mark at the time of writing and it is possible to test $40,000 again before bulls are back in control. The overall structure remains bullish but prices could drop to $37,500 mark, the fibonacci 0.618 extension as highlighted in the red here. We maintain our bullish stance against $35,000 for now.
Bitcoin has been in a corrective phase since $53,000 mark and might have carved a potential bottom close to $40,000 over the last week. Immediate resistance is seen at $48,000-500, followed by $53,000, while support is just below $40,000 levels respectively. If prices are able to bounce ahead of $40,000, it would be considered constructive for bulls as they resume higher towards $48,000 in the next leg higher.
Overall structure remains bullish until Bitcoin stays above $28,600 mark. A push above $48,000 and subsequently $53,000 will open door towards $65,000 and higher.
Trading plan:
Potential rally towards $65,000 against $35,000.
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।
