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Technical outlook:
Bitcoin dropped through $45,500 lows on Friday before finding support again. The crypto is trading close to $46,000 at the time of writing and could be preparing to resume its rally. Till prices remain above $42,000 mark, potential remains for a push towards all-time highs in the next several weeks. Bulls are poised to be back in control from here.
Bitcoin had earlier dropped to the Fibonacci 0.618 retracement of its upswing between $28,600 and $69,000 levels. The $42,000 mark has turned potential support and prices should ideally stay higher if the uptrend is to continue. Furthermore, the rally between $42,300 and $52,000 is also being retraced through the Fibonacci 0.618 levels around $45,500.
If the structure holds well, Bitcoin might be preparing to finally push through $52,000 mark. A break there would open the door toward $60,000 interim resistance and further. Only a consistent break below $42,000 from here, would be considered as bearish and eventually drop through $28,600 mark.
Trading plan:
Potential rally through $70,000 against $40,000
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।
