REDATOR Ben Graham Posted Friday at 13:25 REDATOR Report Share Posted Friday at 13:25 Bitcoin is trading around $67,481 above the 21 SMA and within the downtrend channel formed since February 6. If Bitcoin continues to rise, it is expected to encounter strong resistance around the 3/8 Murray located at $68,750.Bitcoin has strong resistance around the upper band of the downtrend channel located at $69,000. The instrument is expected to encounter strong rejection if the price approaches this zone.If there is a break above $69,000 and if the price exceeds the downtrend channel, we could expect it to reach the 4/8 Murray around $75,000 in the short term.On the contrary, given that BTC is overbought, it is expected that it will continue its bearish cycle below $67,464,and we could expect it to reach the lower band of the downtrend channel around $54,500 and could even reach the 2/8 Murray around $62,500.The Eagle indicator is showing a negative signal. If Bitcoin reaches resistance levels such as $68,750 or $69,000, it will be seen as an opportunity to take short positions with targets at $62,500 and even the psychological level of $60,000.The material has been provided by InstaForex Company - www.instaforex.com Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.