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Bitcoin is trading around $68,348, following a positive bias, but the H4 chart shows signs of exhaustion in the bullish momentum.
Since Bitcoin reached the lower band of the downtrend channel around $62,500, which also coincided with the 2/8 Murray, the cryptocurrency gained strong momentum, rebounding to $69,700. However, BTC was unable to consolidate above the psychological level of $70,000, and now a technical correction is likely to occur.
If Bitcoin falls below the 3/8 Murray located around $68,550, it could be seen as a signal to open short positions with targets at the 21 SMA around $65,799 and finally at the 2/8 Murray of $62,500.
A consolidation above the psychological level of $70,000 could allow Bitcoin to continue rising until it reaches the 200 EMA around $73,500. BTC could eventually reach the 4/8 Murray around $75,000.
The Eagle indicator is showing a positive signal, so we will look for opportunities to continue buying BTC/USD in the coming days if the price consolidates above $65,000.
*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।
