Is it only correction?? Bitcoin on 1D chart

Bitcoin is currently trading around 58 900USD

Check daily chart. You can see nice uptrend - 21 days and 66% up.

Now we have probably correction - 7days and 13% down.

You can see the diferent - after 21days we have only 7days with downtrend.

Important point - in case of correction price should go up very soon again.


Strong support - 58 600USD, 50-52 000USD

Resistance - 64 000USD and 68 0000USD


Looks like bullflag formation - is important to break bearish resistance and then price could continue up.

Kommentar:

Monitoring two scenarios.

1) daily close above 63k - then directly go up.

2) sideways range between 58-60 000USD