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Technical market outlook (Bitcoin | BTC/USD) :
If Bitcoin can stay above $30 k, it would mark an end to the recent pullback. Last week, Bitcoin fell remain within a framework of correction from the high price of $33 k to the bottom of 27,858 USD. Currently price sets at $32,630. Closing above the Pivot Point ($30 k) could assure that BTC/USD will move higher towards cooling new highs.
The bulls must break through $31,317 in order to resume the up trend. Bitcoin is at an all-time high against the dollar around the spot of $ $30 k- $31 k - Bitcoin is inside in upward channel. Closing above the major support ($31 k) could assure that BTC/USD will move higher towards cooling new highs. $32 k is continuing rising by market cap at 5% in a day, and is trading at $32,500 after it reached $33 k earlier.
Bitcoin has been set above the strong support at the price of $30 k, which coincides with the 61.8% Fibonacci retracement level. This support has been rejected three times confirming the veracity of an uptrend.
The market is likely to show signs of a bullish trend around the spot of $30 k - $310 k. Buy orders are recommended above the area of $31,317 with the first target at the price of $32,370; and continue towards $33,000 in order to test the last bullish wave. On the other hand , if the BTC/USD fails to break through the resistance price of $33,00 today, the market will decline further to $34 k.
Trading BTC/USD :
The trend is still bullish as long as the price of $30,000 is not broken. Thereupon, it would be wise to buy above the price of at $30,000 with the primary target at $32,370. Then, the BTC/USD pair will continue towards the second target at $33,000 (a new target is around $34 k). Alternative scenario : The breakdown of $30,542 will allow the pair to go further down to the prices of $29 k and $28 k.
*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।
