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Bitcoin is trading around $64,084 following a sharp technical correction after reaching $67,500, which coincided with the upper band of the uptrend channel formed since early June. BTC is currently trading at a pivotal level for resuming its uptrend.
Given that the Eagle indicator remains in overbought territory, we should exercise caution if we plan to buy Bitcoin, as it is technically showing a negative signal. It is likely that, following a sharp break below the uptrend channel, BTC could reach the 0/8 Murray level around $62,500 and might even hit the psychological level of $60,000.
If Bitcoin consolidates and rebounds above $64—where the lower band of the uptrend channel is located—it could give us a positive signal to buy in the coming hours, with targets at the 1/8 Murray level around $65,641.
A decisive breakout and consolidation above the 1/8 Murray level and above the 21 SMA could drive Bitcoin toward the 200 EMA zone at $68,621, which also coincides with the 2/8 Murray level and the upper band of the uptrend channel.
Based on the technical and fundamental outlook, Bitcoin is likely to reach the psychological level of $60,000 in the coming days. Therefore, we must be cautious, as if the price remains below $65,000, the outlook could remain negative.
*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।
