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On Thursday, Bitcoin's price reached the target level of 111,770. The Marlin oscillator appears to be lagging behind the price, giving the impression of a potential divergence — though unconventional. For now, we adhere to the scenario of the oscillator developing within a long-term upward channel.
A correction from the current level is certainly possible. The reference level is 109,985, which corresponds to the January 20 high. A decline to this support level would not significantly affect the overall bullish trend. At this stage, Marlin becomes the key indicator — it should remain above the lower boundary of its channel.
Once the correction is complete and the price breaks above 111,770, the next target will be 115,050 — the upper line of the price channel — followed by 117,400, which represents the 361.8% Fibonacci reaction level from the primary wave in the first half of April.
On the 4-hour chart, the price has formed a triangular consolidation pattern below the 111,770 level, while the Marlin oscillator is declining. This creates the setup for an upward move from a lower base. We now await the correction's end.
*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।
