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 64,484, under bearish pressure but reaching oversold levels. A technical rebound is likely to occur in the coming hours if BTC consolidates above $64,000, where important support is found.
In case Bitcoin breaks down and falls below 64,000, it is expected to find a bottom around 63,277. This level could offer a technical rebound and would be seen as an opportunity to buy.
A technical bounce around $62,500 (4/8 Murray) will be seen as a buying opportunity because it represents a key level for Bitcoin, but there would still be a chance for it to continue rising in the short term.
If Bitcoin recovers and trades above 5/8 Murray located at 65,625, we could look for opportunities to buy in the short term. The price is likely to reach the 200 EMA around 67,316. A sharp break of the downtrend channel could accelerate the movement of Bitcoin and the instrument could rise to the psychological level of $70,000.
Given that Bitcoin is in a key support zone that coincides with the weekly support and the daily S_2 support, we could look for opportunities to buy at the current price levels, with targets at 65,000 and 65,900.
*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.
