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 $79,737, rebounding after hitting the lower band of the downtrend channel formed since May 6, and we could expect a recovery until it reaches the 21-day SMA at $80,942.
Bitcoin has begun a new bearish sequence and is now consolidating below the 21 SMA and below the 6/8 Murray level, both of which are exerting strong downward pressure. However, we could expect a recovery in the coming hours as oversold conditions exist.
Above $79,000, we could look to open long positions with targets at $80,942 or at the 6/8 Murray line around $81,250.
If bearish momentum prevails, we could expect Bitcoin to continue falling until it reaches the strong support level it has tested since early May around $78,125. This zone could provide a strong support level for Bitcoin, and we could look for buying opportunities above it.
If Bitcoin attempts to break above $81,250 again and fails to consolidate above this zone, it could be seen as a clear signal to open short positions with a target at $78,125. In the short term, the instrument could reach the 200 EMA around $75,957 and eventually around $75,000.
The Eagle indicator is showing a negative signal; however, a brief recovery is expected in the coming hours before the price resumes its bearish cycle.
*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.
