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Bitcoin has finally carved a meaningful bottom around $55,200-300 mark, in line with our expectations. Please note the pink rectangular box, which was marked several days earlier for prices to drop there before bouncing higher. The crypto has now also tested its fibonacci 0.382 retracement of the rally between $40,000 and $ 69,000 levels as displayed on the chart.
A push above $60,000 initial resistance will confirm that a meaningful bottom is now in place and that bulls are back in control. They should remain inclined to push through $75,000 mark before finding resistance again. On the flip side, a drop below $55,300 mark will drag the price further towards $52,000 zone before resuming higher again.
The overall structure continues to remain bullish until Bitcoin stays above its channel support trend line and subsequently above $40,000 price support. At the moment, traders might be looking to initiate fresh long positions with risks below $50,000 mark.
Potential rally towards $75,000, against $50,000.
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।
