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Bitcoin is trading around $79,120 within a downtrend channel formed on the H1 chart since its high of $81,250. Bitcoin could continue its rise in the coming hours until it reaches the 61.8% Fibonacci level around $80,000.
If Bitcoin falls below the 21 SMA—located around the 38.2% Fibonacci level—in the coming hours, we could expect it to resume its downtrend and potentially reach the 5/8 Murray level around $78,125; it could even approach the August 24 low around $76,000.
Conversely, a decisive break above the 21 SMA and above $79,100 will be seen as a buy signal with targets at the psychological level of $80,000; ultimately, we expect it to reach the 6/8 Murray level around $81,250.
The Fibonacci indicator suggests a potential technical rebound to the psychological level of $80,000. Technically, we could wait for this zone to open short positions or expect BTC to encounter strong resistance and, in turn, form a double-top pattern around $81,225—which could also be seen as a clear signal to sell.
A decisive break below the 5/8 Murray level could signal a strong bearish trend, and we expect it to reach the 4/8 Murray level around $75,000 in the short term.
*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।
