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Bitcoin is trading around $63,773, having rebounded during Monday's US trading session when the price reached the lower band of the downtrend channel and, in turn, found strong support around the 0/8 Murray level at $62,500.
Bitcoin has encountered strong resistance around the 200 EMA at 64,052. Given the prevailing bullish momentum, we could expect a break above this zone to continue buying, with targets at the upper band of the downtrend channel around $64,500.
A decisive breakout above the downtrend channel and consolidation above $64,000, around the 200 EMA, could propel Bitcoin toward the July 21 high of $67,000 and even $68,500, near the 2/8 Murray level.
If bearish momentum prevails and Bitcoin continues to trade within the downtrend channel, a good zone to enter short positions could be below the 200 EMA; alternatively, if it reaches the upper band of the uptrend channel around $64,500, that could be the zone to open short positions.
The Eagle indicator is showing a positive signal for Bitcoin; unless a technical correction toward $63,150 or $62,500 occurs in the coming hours, this could be considered a buying opportunity.
*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।
