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Bitcoin is trading around $90,927 after a bullish rally following its low of $80,000. Bitcoin is now overbought, as can be seen on the H4 chart. We could expect Bitcoin to fall below $92,500 in the coming hours, then it could reach the support at the bottom of the uptrend channel around $88,287.
The outlook remains bearish for Bitcoin. However, if the crypto maintains the bullish momentum, it could encounter strong resistance if it reaches the 3/8 Murray around $93,750.
The secondary uptrend that began on November 20 could give Bitcoin a new bullish momentum if it consolidates around $88,000 and could even offer good support at 2/8 Murray around $87,500.
Given that Bitcoin is showing signs of exhaustion, we may look for opportunities to sell below $92,000 with a target at $88,000.
If a pullback occurs towards the strong resistance at $93,750, it will be seen as an opportunity to sell in the coming days, with a target at $87,500.
The Eagle indicator is reaching overbought levels, so we must be careful when planning long positions.
*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।
