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Bitcoin is trading around $89,034 below the 21 SMA, going through a strong technical correction after breaking the uptrend channel formed since November 19.
Bitcoin could find good support around $87,500, which is where Murray's 2/8 level is located, which could serve as a good point to open long positions if the price resumes its upward cycle.
If the bearish force prevails, Bitcoin has another key support around $86,000 - $85,000. In other words, if a technical rebound occurs around this area, we could open long positions.
Since last week, Bitcoin has entered an overbought zone. So, we warned you about a probable correction below $93,000 towards $85,000. Bitcoin will likely complete its fall from that key support level in the coming hours. Then, we could expect a technical rebound.
Our outlook remains bearish for Bitcoin as long as the price trades below the 21 SMA or below the uptrend channel around $91,400.
*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।
