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Bitcoin is trading around $69,479, above the 200-day EMA and the 21-day SMA, following a strong technical rebound after hitting the lower band of the uptrend channel formed since March 28.
Bitcoin is expected to continue rising in the coming hours and could reach the March 23 high around $72,700, and could even reach the 4/8 Murray level around $75,000.
If Bitcoin falls below $69,000, where the 200 EMA is located, we could expect a technical correction toward the 21 SMA at $67,631. If BTC breaks below this zone, it could continue its bearish bias.
Over the weekend, Bitcoin staged a strong recovery above $67,000, reaching the $70,000 zone. However, it appears BTC may struggle to continue rising; thus consolidation is likely around the $67,850 to $70,000 range in the coming days.
According to the H4 chart, we can see that Bitcoin has decisively broken out of the bearish trend channel formed since March 12, suggesting that it could continue rising in the short term. However, for this scenario to hold, Bitcoin's price must remain above $67,600.
A drop below $67,000 could turn the outlook negative, and Bitcoin could return to the 2/8 Murray levels around $62,500.
*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।
