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 57,232, above 2/8 Murray, and under strong bearish pressure. We believe that Bitcoin could resume its main bullish cycle in the next few hours and could reach 4/8 Murray around 62,500.
Bitcoin has found strong support around 2/8 Murray located at 56,250. In case it consolidates above this area, it is expected that it will reach the top of the bearish channel around 62,200 in the coming days.
If BTC/USD consolidates below $56,000, we could expect a continuation of the bearish movement and it could reach the 200 EMA located at 51,771 and finally, the psychological level of $50,000.
Technically, Bitcoin has reached a 50% retracement (56, 500) according to the Fibonacci indicator, if we draw the indicator from the breakout point of 38,551 to the high of 73,840.
If the cryptocurrency consolidates above the 50% Fibonacci level in the coming days, we could expect a recovery in BTC and it could return to levels of $70,000.
On the contrary, in case there is a deeper correction and BTC reaches 61.8% Fibonacci, we could wait for it to drop to the psychological level of $50,000.
The eagle indicator is giving oversold signals. Therefore, BTC is likely to have a technical rebound in the next few days. So, we could look for opportunities to buy above $56,000.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.