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Technical outlook:
Bitcoin has raised through $49,000-200 mark as discussed and expected, over the weekend. The crypto has taken out its initial resistance around $48,000-49,000 zone. Most traders might be inclined to book profits now as price could pullback towards $42,000-43,000 mark in the next few trading sessions. It could provide yet another opportunity to initiate long positions.
Bitcoin has now carved a meaningful bottom just below $40,000 mark and is expected to stay above that level going forward. Immediate price resistance is now see at $53,000, while support is strong around $40,000 level respectively. Bears might remain poised to drag prices towards $42,000-43,000 zone before giving in to bulls.
The recent boundary which could be worked upon is between $40,800 and $49,200 respectively. A retracement towards the $42,000-43,000 mark could find bulls coming back in control. If the above structure unfolds accordingly, Bitcoin could be on its way towards $65,000 and higher thereafter.
Trading plan:
Potential buy around $42,000-43,000 again with risk below $40,000.
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।
