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!
Over the weekend, Bitcoin consolidated above the 200 EMA and above the 5/8 Murray line, but subsequently fell below this zone. It is now clearly visible on the chart that it is under downward pressure; we could expect it to reach the 4/8 Murray line around $75,000 in the coming days.
In case of a pullback toward the 200 EMA, which coincides with the 21 SMA at $77,748, we could view this zone as an opportunity to open short positions, with targets at $76,600 and ultimately at the 4/8 Murray level around $75,000.
A drop in Bitcoin below $75,000 could lead to a strongly bearish scenario. Thus, BTC could reach the psychological level of $70,000.
However, we observe that technically, Bitcoin is reaching oversold levels, so a recovery is likely in the coming days; it could once again reach $81,250 and might even hit the 7/8 Murray level around $84,375.
A decisive breakout and consolidation above the 5/8 Murray level could signal a bullish scenario for Bitcoin, and we could view this area as a potential buying opportunity in the coming days.
Conversely, a move below the 5/8 Murray level would be seen as a sell signal.
The Eagle indicator has reached oversold levels, so we believe a Bitcoin recovery could occur in the coming days.
*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.
