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 $78,405 with an upward trend after finding solid support around the 21 SMA at $77,285. Bitcoin is likely to continue rising in the coming days and could reach its high around the psychological level of $80,000; we even expect it to encounter strong resistance around the +2/8 Murray level at $81,250.
Given that Bitcoin has upside potential above $78,125, we will look for opportunities to continue buying, anticipating that it will reach $79,500, the psychological level of $80,000, and finally $81,250.
Conversely, below the +1/8 Murray level, we will look for opportunities to sell. If the price falls below $78,000, we could expect a strong technical correction toward the 8/8 Murray level at $75,000.
Bitcoin has strong support around $75,000. If the price consolidates around this zone, it could once again be considered an opportunity to open long positions.
Only a decisive break below $75,000 would enable a technical correction, and BTC could reach the 61.8% Fibonacci level around $68,750. This level is the target for bears, but the key will be to monitor the critical 8/8 Murray level.
If Bitcoin forms a double top pattern around $79,800, our strategy could be to sell in anticipation of a technical correction toward $75,000.
*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.
