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Bitcoin is trading around $62,387, having rebounded after touching the lower band of the uptrend channel formed since early July, and is likely to consolidate above the 0/8 Murray level in the coming hours to resume its uptrend.
During Wednesday's US trading session, BTC hit a low of 61,500. If BTC returns to this level in the coming hours and breaks decisively below the uptrend channel, we could expect Bitcoin's decline to continue, potentially reaching $59,375 or even the -2/8 Murray level at around $56,250.
A consolidation of Bitcoin above $62,500 could signal a positive trend, so we should keep a close eye on this area. If the price consolidates above this zone, we could consider buying with targets at the 200 EMA, around $63,700, and ultimately around the Murray 1/8 level at $65,625.
Conversely, if bearish momentum prevails and Bitcoin consolidates below the 0/8 Murray level, the outlook could turn negative. We should wait for confirmation of a breakout from the uptrend channel, after which we could sell with targets at $59,000 and $56,000.
The Eagle indicator has reached overbought levels and, technically, is showing a negative signal, so the outlook for Bitcoin remains bearish over the next few days until it reaches a low of at least $59,000 or $56,000.
*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।
