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Bitcoin is trading around $59,767, consolidating above the 1/8 Murray line and below the 21 SMA, showing signs that bearish momentum is waning.
On the H4 chart, we can see that Bitcoin has bounced back above $58,000 on several occasions. Currently, BTC may be preparing for an upward move; however, we should wait for the price to consolidate above the psychological level of $60,000.
Conversely, if Bitcoin falls below $59,375—around the -1/8 Murray level—this zone could be seen as a selling opportunity, and it is likely to reach the lower band of the downtrend channel around $57,000, eventually potentially reaching the -2/8 Murray level around $56,250.
On the H4 chart, we can observe the formation of a symmetrical triangle pattern. Therefore, a break above $60,500 could provide momentum for Bitcoin, allowing it to quickly reach the upper band of the uptrend channel around $62,700.
Given that Bitcoin is reaching oversold levels, we could expect it to consolidate above the psychological level of $60,000 and rise toward the upper band of the uptrend channel at $63,700, eventually reaching the 200 EMA around $65,060.
*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।
