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Bitcoin is trading around $65,891, above the 21 SMA and above the 1/8 Murray level, rebounding after reaching a high of around $66,918 during Tuesday's US trading session.
Technically, Bitcoin could continue its rise in the coming days until it reaches the 2/8 Murray line around $68,750; this zone is key as it could face strong resistance. Below this zone, a technical correction could occur, and for bears, it could be a good area to take short positions.
If Bitcoin falls below $65,625, it is likely to reach the lower band of the uptrend channel formed since early June and could eventually reach the 200 EMA around $63,900. Both levels could serve as strong support for Bitcoin and could be seen as an opportunity to resume buying.
On the other hand, if Bitcoin falls below $64,000 and consolidates below this zone, the outlook could turn negative and a trend reversal might occur. If this scenario plays out, we could expect it to reach $62,500 and eventually hit the -1/8 Murray level around $59,375.
The Eagle indicator is showing a positive signal, although there are signs of exhaustion in the upward momentum. Therefore, after a technical correction, we could wait and then resume long positions.
*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।
