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Bitcoin has rallied to an all-time high of around $68,500 in the past hour. The crypto has pushed through fresh highs alongside a bearish divergence on the daily Relative Strength Index (RSI) (highlighted in the lower section). Bearish divergence on the RSI could indicate a potential reversal in the near term. The crypto might reverse lower toward the $49,500-50,000 zone in the next few trading sessions.
The Fibonacci 0.618 retracement of recent upswings between $40,000 and $68,500 is also passing through the $49,500-50,000 zone. Furthermore, its new channel support trend line would also provide the necessary bullish bounce. Hence potential remains for a trend reversal if prices decline through $50,000.
Bitcoin is pulling back below the $68,000 mark at this point in writing and is expected to break below $60,000. Please note that breaking below the $56,200 level would open the door to test $49,500-50,000 respectively. Only a break below $40,000 will change the trend to bearish as bears take control back.
Aggressive: Potential drop to $50,000 against $69,000 levels.
Conservative: Remain flat for now. Potential buy around $50,000 against $40,000 levels.
Good luck!
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
