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Early in the American session, Bitcoin is trading around $70,000 within the bearish trend channel forming since October 28 and bouncing after having reached 6/8 of Murray (68,750).
After having reached $73,626, Bitcoin made a strong technical correction towards the 68,750 area. The price has been bouncing from this point and could continue its rise in the next hours until reaching the 21 SMA or the top of the bearish trend channel around 71,500.
If Bitcoin consolidates above 6/8 of Murray, it will be seen as an opportunity to buy in the next few hours but we should pay attention to the 71,370 area where the 21 SMA is located and could act as a resistance.
Additionally, if Bitcoin reaches the area of 71,500 or the top of the downtrend channel, this could be seen as an opportunity to resume selling since there is strong bearish pressure below 7/8 of Murray. Hence, we could sell with targets at 68,750 and even at 200 EMA around 66,377.
*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।
