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 price is bearish as the market found resistance around the $40,000 mark overnight and could not move any higher. Therefore, we expect BTC/USD to move lower over the next 24 hours to attempt to set another lower low.
BTC/USD opened at $38,850 today after a slight bullish close yesterday took the market to the $40,000 mark. Since further upside was not seen earlier today, we can assume that another lower high is set, and the market will retrace further over the next 24 hours.
On the 4-hour chart, we can see the Bitcoin price action failing to move above the $40,000 mark overnight. The overall market still continues to retrace from the all-time high of $65,000, set on the 14th of April. After an initial retracement to the $47,000 mark, BTC/USD consolidated for several days below $59,000 resistance.
After a brief move to retest the $42,000 previous support as a resistance, the market moved lower once again. Yesterday a strong higher low was set at the $32,000 indicating that bears are slowly losing control with the formation of bullish divergence support this stance.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
