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Bitcoin was correcting lower since the last two trading sessions. It dropped to the $47,300 mark on Tuesday before finding support. The crypto is trading close to the $48,000 mark at the time of writing. It seems to have carved a higher low just ahead of $47,000. Please, note that the price bounced back from the Fibonacci 0.618 retracement levels of the recent upswing between $45,500 and $52,100 respectively (not shown here).
Bitcoin bulls might be preparing to regain ground from here and push the price through $60,000 in the near term. Immediate price resistance is seen around $60,000, while support comes at the $45,500 mark respectively. Ideally, the price should stay above the $45,500 level to keep the immediate bullish structure intact.
Looking at the larger degree wave structure, bitcoin has found support near the $42,300 recently. It is very close to the Fibonacci 0.618 retracement levels of the upswing between $28,800 and $67,000 levels respectively. Furthermore, bulls are finding support around the Fibonacci 0.618 levels of recent upswing between $42,300 and $52,000 as well. Watch out for a break above $60,000 and $67,000 in the near future.
Potential rally to $75,000 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।
