The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Bitcoin is trading around $80,570 after reaching the psychological level of $80,000 and even surpassing the October 8 low. Consolidation around this area is likely in the coming days.
Bitcoin made several attempts to break above the 7/8 Murray level but failed. During the US trading session, when the price fell below the 21 SMA, a sharp downward acceleration followed after positive US economic data, which added pressure on Bitcoin.
Currently, BTC is consolidating below the 200 EMA and below the 6/8 Murray line, suggesting that further downside may follow in the coming days.
Looking at the H4 chart, we can see that Bitcoin has reached oversold levels, as the Eagle indicator is in the 10 zone, signaling a positive trend.
This supports the view that Bitcoin could recoup some of its losses in the coming days, so we should keep a close eye on price action. If BTC consolidates above the psychological level of $80,000, that could be viewed as a buying opportunity.
If bearish momentum prevails, Bitcoin is expected to find strong support near the lower band of the downtrend channel around $78,900 and potentially around the 5/8 Murray level at $78,125.
Consolidation above $80,000 would generate a buy signal with targets at 81,250, the 200 EMA around 81,982, and ultimately the upper band of the downtrend channel around $84,600.
*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।
