The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Bitcoin has been on a sharp decline since consolidating around $74,000. BTC failed to reach the $75,000 pivot point and resumed its downtrend, breaking below the 3/8 Murray line and then below the 2/8 Murray line, reaching the key support level of the downtrend channel around $67,200.
Bitcoin could consolidate above $67,000 in the coming days, which could be seen as an opportunity to buy during a technical bounce. However, this makes sense only if the price consolidates above the lower band of the downtrend channel.
If bearish pressure prevails, Bitcoin is expected to reach the 1/8 Murray level around $65,627, but this support is weak, so Bitcoin could easily reach the psychological level of $60,000.
The Eagle indicator has reached oversold levels, so there is a probability of a technical rebound in the coming hours, provided the BTC price consolidates above $67,000.
If Bitcoin recovers some of its losses and returns to consolidate above the 2/8 Murray level around $68,750, this could be seen as a buying opportunity with targets at the 3/8 Murray level around $71,875; ultimately, we expect it to reach the upper band of the downtrend channel around $74,000.
Given that Bitcoin is under downward pressure, a technical bounce toward the 3/8 Murray line or the 21 SMA could be seen as an opportunity to resume short positions, and we could sell if the price shows signs of exhaustion or accumulation around this area.
Our trading plan for the coming hours is to buy BTC/USD above $67,000 with great caution. We can open long positions, always with a tight stop loss and carefully managing our capital risk.
*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।
