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Bitcoin future analysis: trend reversal is taking shape!




Dear traders,

After the last major price rally to a level of a good 53,000 USD, it has fully exhausted its recovery potential and has gone into a regular consolidation. This seems to be coming to an end with the gains from the last few days. In the area of ​​44,000 US dollars, there are apparently enough buyers to bring about sustainable stabilization, and another wave of buying could start this week. At the same time, a second large wave of purchases would be conceivable from the current price level to the record levels from the spring of this year.

Long chance:

The Bitcoin future is noticeably approaching a regular buy signal, a price increase initially to 50,000 and above it to the September high of 53,084 US dollars only occurs above a level of at least 47,500 US dollars, according to the current evaluation. A breakout above the central hurdle of the past few months at around $ 53,000, on the other hand, could trigger further gains to the record highs of $ 65,497. However, if the Bitcoin Future crosses the area around 41,292 points bearishly, there would be an immediate test of the 200-day average at 39,020 points. Further discounts to 37,250 US dollars would be almost inevitable.

Resistors: $ 47.739 / 48,682 / 49,807 / 50,539 / 51,132 / 52,308 US dollars

Supports: $ 46,627 / 45,182 / 44,106 / 43,267 / 42,580 / 41,292 US dollars

Daily chart:




Bitcoin Future daily chart

Bitcoin Future daily chart

-Future in USD; Daily, local time (GMT + 1); Price of the crypto pair at the time the analysis was made $ 47,482.00; Trading place: MarketsX; 1:55 pm

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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