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!
Despite making a new all time high and activating an inverted head and shoulders pattern, Bitcoin ends the week under pressure and with a bearish reversal signal. Price has not only broken out of the bullish channel, it has also canceled the bullish inverted head and shoulders pattern. Bitcoin was already warning us with bearish RSI divergence signs. The reversal now is happening. How low can Bitcoin go?
Green lines - Fibonacci retracements
Blue lines - bullish channel
Bitcoin as we mentioned earlier has broken outside of the bullish channel. Price made a low today around $50,000 and is now trading at $55,800 area. Trend is no more bullish. There are signs that trend is about to change to bearish as price exits the channel. Bitcoin has support at $50,000 and I expect to see the 38% Fibonacci retracement around $41,000 if we break below $50,000. Making a deeper correction to lower Fibonacci levels is still possible but not my primary scenario yet. At current point in time I prefer to be neutral Bitcoin.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
InstaSpot分析评论将让您充分了解市场趋势！ 作为InstaSpot的客户，您将获得大量的免费服务以实现有效的交易。
