Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
The price of Bitcoin rallied in the short term and now it stands below strong dynamic resistance. It's traded at 40,394 at the time of writing far above yesterday's low of 38,202. BTC/USD increased by 6.80% from yesterday's low to 40,800 today's high.
After its aggressive rally, we cannot exclude a temporary drop. Larger growth needs strong confirmation. In the short term, it moves somehow sideways. In the last 24 hours, BTC/USD is up by 3.78% but it's down by 1.69% in the last 7 days.
BTC/USD found support on the descending pitchfork's median line (ML) and now is traded around the weekly pivot point of 40,331. As you can see on the H4 chart, the crypto failed to reach and retest the inside sliding line (SL) which represents a dynamic resistance.
Making a valid breakout above this level may signal potential further growth. The median line (ML) and 38,547 low represent strong downside obstacles. False breakouts above the sliding line (SL) or its failure to reach this dynamic resistance may signal a new sell-off.
Jumping and closing above 40,800 today's high and above the sliding line (SL) could confirm an upside continuation and could bring new buying opportunities.
*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.
