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Bitcoin is trading below the 4/8 Murray line and within the uptrend channel that has formed since early February. Bitcoin has reached the $75,980 level twice, which could be acting as strong resistance.
If Bitcoin continues to rise in the coming hours and consolidates above $75,000, we could expect it to reach the upper band of the uptrend channel around $78,660 and could even reach the 5/8 Murray line around $81,250.
Conversely, the two attempts to break above the $76,000 zone could form a bearish pattern known as a double top, which would need confirmation if Bitcoin trades below $75,000.
If Bitcoin fails to break above $76,000 in the coming hours, we could view this zone as a signal to open short positions with targets at the 21 SMA around $69,854. BTC could even reach the lower band of the uptrend channel around $67,500.
Given that the Eagle indicator has reached overbought levels, Bitcoin is expected to face downward pressure in the coming days. Therefore, below $78,600, any attempt to reach this zone will be considered a signal to sell.
*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।
