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Bitcoin continues to move sideways in the short term. It's located at 16,449 at the time of writing. The price action signaled once again that the sellers are exhausted. The cryptocurrency turned to the upside but a larger growth is far from being confirmed.
BTC/USD is up by 1.34% in the last 24 hours and by 1.75% in the last 7 days. A larger growth should force the altcoins to jump higher as well.
Technically, the rate dropped a little in the short term after reaching 16,783. It has developed a down-channel pattern. Now, it has found support right below the weekly pivot point (16,228), so the chart formation could bring an upside continuation.
The downtrend line and 16,783 represent upside obstacles. Its failure to stabilize below the weekly pivot point of 16,228 signaled exhausted sellers.
A new higher high, registering a valid breakout through the 16,783 validates further growth and offers new buying setups.
*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।