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Bitcoin is trading around $90,252, rebounding after reaching the bottom of the uptrend channel formed since December 24. According to the H4 chart, we are seeing a strong technical correction after reaching a high of $95,000.
This level, where the price of Bitcoin is now, provides good support as it is located at the 200 EMA and could serve as a good point to open long positions if the price recovers above this area.
A decisive break of the uptrend channel and consolidation below $89,500 could see Bitcoin continue its decline and reach the 2/8 Murray at $87,500, and finally accelerate its fall towards $81,250.
As long as BTC trades within the uptrend channel and consolidates above the psychological level of $90,000, the bullish outlook remains intact. We expect the cryptocurrency to recover and reach the 21 SMA around $92,488, the 3/8 Murray at $93,750, and could eventually reach the top of the uptrend channel around $96,000.
The Eagle indicator is showing a negative signal, so we must be careful if a break below $89,500 occurs, as Bitcoin's decline could continue.Eventually, it could reach $87,000 and $81,000.
*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।
