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Bitcoin climbed through the $49,500 mark on Tuesday taking out interim resistance. The crypto has been drifting sideways since then and is seen to be trading around $49,000 levels at the time of writing. Bulls will remain poised to push higher towards the next short term resistance around $52,000 mark before producing a meaningful pullback.
Bitcoin seem to have carved a base around $42,300 earlier, which was the Fibonacci 0.618 retracement of the entire rally between $28,800 and $67,000 levels respectively. Further, bulls have also managed to carve a higher low around $45,500 mark, close to the Fibonacci 0.618 retracement of the recent upswing between $42,300 and $52,000 mark respectively.
After finding support at the critical fibonacci levels Bitcoin bulls are now determined to push through fresh all-time highs above $70,000 mark. A break above $60,000 will confirm that bulls are back in control and are here to stay for longer period. Prices must stay above $40,000 mark to keep the above bullish structure intact.
Potential rally towards $75,000 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।
