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Bitcoin is trading in the red at 48,814 at the time of writing. Still, the bias is bullish in the short term, despite a minor retreat. It could only test and retest the immediate support levels before jumping higher.
In the last two days, BTC/USD registered an 8.84% growth. Technically, it has escaped from an upside reversal, but we still need confirmation before considering going long. In the last 24 hours, Bitcoin is down by 0.82%, while in the last 7 days, the crypto is up by 1.23%.
BTC/USD has finally managed to jump and close above the downtrend line, above the channel's resistance. The price slipped lower after finding resistance at the weekly R1 of 49,448.93.
The price is expected to retest the broken downtrend line. Staying above it and making a new higher high, a valid breakout above the R1 could announce an upside continuation. Don't forget that the 50,000 psychological level stands as a static reistance.
Jumping, closing, and stabilizing above 49,600 today's high could really signal further growth. The descending pitchfork's upper median line (uml) represents a dynamic resistance, is seen as a target.
*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।
