The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Bitcoin rallied through $23,400-500 post FOMC on Wednesday. The crypto registered an intraday high at around $23,450 on Thursday, falling in line with our earlier projections. Intraday pullbacks are possible but prices should remain well capped above the $20,700 interim lows as bulls are poised to push towards the $29,000-400 zone in the next few weeks.
Bitcoin has been developing a larger-degree counter-trend rally since June 18, 2022, after printing lows at around $17,500. Earlier, it had dropped from the $69,000 all-time high to $17,500 in the fall consisting of three waves. The corrective wave is probably into its last leg, which should push the price to $29,400 as projected on the daily chart here.
Also, note that immediate price resistance is seen at around $32,200, which remains close to the proposed rally. If the price touches the downtrend line, it could reach up to the $34,000-35,000 zone before hitting resistance, both the trendline and the Fibonacci levels are seen on the chart here. Bitcoin is expected to produce a bearish bounce thereafter and decline below $17,500.
Bitcoin carved a recent lower-degree upswing between $18,900 and $24,300 as seen on the chart here. Further, it retraced towards the Fibonacci 0.618 level at around $20,700, producing a strong bullish reversal (a Morning Star candlestick pattern). A high probability remains for prices to stay above $18,700 and push through $29,400 in the next few weeks.
Potential rally towards $29,400 against $20,500
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।
