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!
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Technical outlook:
Bitcoin has reversed sharply from sub $45,000 to $42,100 mark at the time of writing and it is possible to test $40,000 again before bulls are back in control. The overall structure remains bullish but prices could drop to $37,500 mark, the fibonacci 0.618 extension as highlighted in the red here. We maintain our bullish stance against $35,000 for now.
Bitcoin has been in a corrective phase since $53,000 mark and might have carved a potential bottom close to $40,000 over the last week. Immediate resistance is seen at $48,000-500, followed by $53,000, while support is just below $40,000 levels respectively. If prices are able to bounce ahead of $40,000, it would be considered constructive for bulls as they resume higher towards $48,000 in the next leg higher.
Overall structure remains bullish until Bitcoin stays above $28,600 mark. A push above $48,000 and subsequently $53,000 will open door towards $65,000 and higher.
Trading plan:
Potential rally towards $65,000 against $35,000.
Good luck!
*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。
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