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Bitcoin is trading around $72,933, last seen in August 2024, and is expected to find good support around the weekly 200 EMA located at $68,741.
Since its all-time high of around $127,000, Bitcoin has lost more than 40% of its value, so it is expected to find good support around $68,000. If the bearish force prevails, we could expect it to reach the lower band of the uptrend channel formed since March 2022, around $62,690.
In the coming weeks, we could be watching price levels around $69,000 or the psychological $70,000 level. This area above the 200 EMA could be a good point to open long positions, with targets at the 21 SMA around $95,000.
If the downward pressure prevails for Bitcoin, we could be watching for key support at the bottom of the uptrend channel around $63,000. This level could offer us a good point to take long positions, with targets at $70,000 and $87,500.
A decisive break of the weekly uptrend channel and consolidation below $63,000 could mean a strong technical correction for Bitcoin, and we could expect it to reach the psychological level of $50,000 or even the lower band of the uptrend channel formed since May 2020, around $41,000.
Given that Bitcoin is trading within an uptrend channel and approaching support levels, we will look for opportunities to buy in the coming weeks above $68,000 or above $70,000 with targets at $85,500 and around the psychological level of $90,000.
*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।
