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!
Crypto Industry News:
The market is hoping that the BlackRock ETF will help cryptocurrencies. Is it really a signal of mass adoption coming? Finbold points out that as recently as 5 years ago, BlackRock CEO Larry Fink said that "fund clients are not interested" in cryptocurrencies. He accurately said that the number of interested is zero. It must now be much higher if the fund has taken advanced steps by filing with the SEC.
As recently as 8 months ago, Fink pointed out that Bitcoin is amazing. Why? Because it raises great interest, although the crypto market is still just a flea compared to the stock market. What's more, he said some hope that cryptocurrencies will catch up with stocks in the distant future. As a representative of Wall Street, he spoke quite enthusiastically, in his opinion, this is a 'possible' scenario. The previously skeptical giant is showing more and more interest in cryptocurrencies.
Pending the opinion of the Securities and Exchange Commission (SEC), BlackRock has developed a positive reputation with the regulator, as highlighted in the Finbold report. It is worth noting that BlackRock's record for SEC-approved ETFs stands at an impressive 575-1. If the application for a spot ETF is approved, it could have far-reaching consequences for the entire cryptocurrency market. It is worth noting that the SEC has yet to approve any Bitcoin spot ETFs, although it has given the green light to Bitcoin futures ETFs in the past. The introduction of the spot can have a significant impact on the value of the cryptocurrency market - mainly Bitcoin. A similar story happened many years ago with the gold spot ETF.
Technical Market Outlook:
The BTC/USD pair has bounced from the swing low made at the level of $24,833 and is testing the technical resistance level at $26,861. In a case of a breakout higher, the next target for bulls is seen at the level of $27,380. The intraday technical support is seen at the level of $26,261 (100 MA) and $26,199 (50 MA). The strong and positive momentum on the H4 time frame chart supports the bullish outlook for BTC.
Weekly Pivot Points:
WR3 - $26,778
WR2 - $26,563
WR1 - $26,480
Weekly Pivot - $26,348
WS1 - $26,256
WS2 - $26,123
WS3 - $25,978
Trading Outlook:
The bulls broken above the gamechanging level located at $25,442, so now the mid-term outlook for BTC is bullish. The last pull-back has reached the 38% Fibonacci retracement and the market is ready to continue the up move. The next target for bulls is seen at the level of $32,350. As long as the level of 19,572 is not clearly violated, there is a chance for a long-term up trend to continue.
*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।
