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 at $87,841, above the 2/8 Murray and the 21 SMA. BTC has been consolidating since mid-December. An upward momentum is likely to occur in the coming hours until the price reaches $89,643, where the 200 EMA is located and which also coincides with the top of the downtrend channel formed since December 7.
If the bullish force prevails in the coming hours and Bitcoin consolidates above $89,643, we could look for opportunities to buy with targets at about $93,750 around the 3/8 Murray.
On the contrary, in case of a sharp break below $87,500, there could be a bearish acceleration, and Bitcoin could reach the 1/8 Murray around $81,250.
Given that Bitcoin is consolidating above $87,500 as long as the price remains above the 2/8 Murray, there is a likelihood of reaching $90,000. A break above the 200 EMA could favor an upward movement. Hence, BTC could reach the psychological level of $100,000 in the medium term.
The symmetrical triangle pattern could give us a signal for a strong movement in the coming days, so we must be alert to a break below $87,500 or above $89,500.
*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.
