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Bitcoin bounced back from $46,500 lows print on Wednesday and pushed through $49,300 mark on Thursday. The crypto has yet again carved a higher low and is on its way to break higher towards $52,000 in the near term. Ideally, prices should now stay above $42,000 mark to keep the bullish structure intact. Bulls seem to be back in control.
Bitcoin has bounced off the Fibonacci 0.618 retracement mark of the intermediate upswing between $28,600 and $ 69,000 as highlighted on the chart. Furthermore, it has bounced from the fibonacci 0.618 retracement of the immediate upswing between $42,300 and $52,000, which is not shown on the daily chart. A series of fibonacci supports raise probability for a strong rally.
The crypto is facing interim resistance around $52,000, followed by $60,000, while support is now seen at $42,300, followed by $40,000 mark respectively. Only a significant break below $40,000 will change the above bullish structure in the near term.
Potential rally through $70,000 against $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।
