Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
Bitcoin is trading around $81,250, above the 200 EMA and within the uptrend channel formed since April 28. On May 5, Bitcoin reached the upper band of the trend channel, setting a new monthly high around $82,842.
Since Bitcoin reached the upper band of the uptrend channel, a strong technical correction has been observed. The price is now below the 6/8 Murray line and is approaching the 21 SMA, so we could expect a technical bounce to occur around this area, which could be seen as an opportunity to buy Bitcoin above the psychological level of $80,000.
Given that the Eagle indicator shows Bitcoin has reached overbought levels, we could expect a sharp breakout from the uptrend channel and a consolidation below $80,000. This could lead to a strong technical correction toward the 200 EMA around $75,913.
The outlook for Bitcoin could turn bearish if the price continues to trade below the 6/8 Murray level, in which case the price will remain under downward pressure, and we could expect it to reach the 4/8 Murray level around $75,000 in the short term.
Based on the 61.8% Fibonacci retracement from its high of $82,842 to the low of $80,000, we could expect the BTC price to return toward $82,000; if it fails to consolidate above this level, it could be seen as a signal to sell, with targets at $80,668, $78,125, and finally $75,913.
*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।
