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 $81,609 within the downtrend channel that has been forming since September 23 and is showing a negative signal after reaching the upper band of the uptrend channel around $84,700.
Yesterday, during the US trading session, we observed this sharp move in Bitcoin and noted that the cryptocurrency faced strong resistance at the upper band of the downtrend channel. Technically, Bitcoin has held at this level, and since then, the trend has reversed, leading to a sharp decline.
On the H4 chart, we can see that Bitcoin is trading below the 21 SMA and below the 200 EMA, which leads us to believe it could continue falling until it reaches the 6/8 Murray level and could ultimately reach the lower band of the downtrend channel, located around $78,750.
If Bitcoin settles below the 6/8 Murray level in the coming days—a zone that has historically served as a strong support level, allowing Bitcoin to continue rising on previous occasions—a technical rebound above this zone could be seen as a buy signal.
Conversely, a decisive break below the uptrend channel formed since October 13 could accelerate Bitcoin's downward movement, and we could even expect it to reach the 5/8 Murray level around $78,125.
*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।
