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 currently trading around the 4/8 Murray level at 112,500. This level is offering strong support for Bitcoin, and it's likely that it could recover some of its losses if it consolidates above the 21SMA at 113,720.
Conversely, if the Bitcoin price consolidates below 113,800, any technical bounce will be seen as a sell signal.
If the price falls below this resistance, it could reach the bottom of the ascending trend channel around $111,000.
If the bearish pressure persists from current price levels, we could expect a continuation of the BTC decline, potentially reaching $110,800. Around this level, we could expect a strong technical bounce. Hence, we should pay attention to this area to consider entering long positions.
Only if the price of Bitcoin falls below 110,500, the outlook could turn negative, and we might expect it to reach 2/8 Murray around $106,250.
*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.
