REDATOR Ben Graham Posted Monday at 13:37 REDATOR Report Share Posted Monday at 13:37 Bitcoin is trading around $66,310, rebounding after hitting a low of $64,000 last seen on February 12.In the coming hours, BTC is expected to continue recovering some of its losses and could reach the 21 SMA around $67,539. It could even reach the 3/8 Murray around $68,750, and finally the upper band of the downtrend channel around $69,000.Bitcoin is likely to continue rising and encounter strong resistance below the 21 SMA located at $67,539, so this area could be seen as a point to open short positions with targets at the 2/8 Murray around $62,500.In the short term, Bitcoin is expected to reach the psychological level of $60,000, last seen on February 5, and we could even expect the price to reach the 1/8 Murray around $56,000.The Eagle indicator is showing a negative signal. However, the current technical rebound could allow the instrument to resume its bearish cycle only if Bitcoin consolidates below the 3/8 Murray in the coming days.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...
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