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Bitcoin is trading around $68,750, at about the 3/8 Murray, showing a slight recovery after reaching $71,200.
In the coming hours, Bitcoin is expected to encounter strong resistance around the psychological level of $70,000, an area that coincides with the upper band of the uptrend channel, which in turn could exert strong rejection. Thus, we could expect a resumption of the bearish cycle.
If Bitcoin falls below Murray's 6/8 and consolidates below the 21 SMA, we could expect the downward movement to continue, with a target at Murray's 2/8 around $62,500.
Conversely, a sharp break above the downtrend channel formed since early February couldbe followed by a subsequent upward movement. In the short term, BTC/USD is expected to reach the 4/8 Murray around $75,000, and it could even reach the 200 EMA around $77,607.
The Eagle indicator is showing a negative signal, so we expect that Bitcoin could resume its bearish cycle in the coming hours after a pullback.
*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।
