Bitcoin has followed a massive spike this year, even at the area levels between $ 52,000 and $ 55,000, getting huge buying pressure on DIPs at $ 50,000.
Exiting the bullish outer channel and the break of the 200 moving average is not good news for Bitcoin, however we can see signs of a buying pressure in the $ 50,000 area, as has happened before. At the same time a bullish divergence is formed with respect to the RSI.
$ 48,000 has proven to be a major rejection force as a support / resistance level. The plan that we will follow for Bitcoin, despite this large correction is still bullish, targeting $ 60,000.
Exiting the bullish outer channel and the break of the 200 moving average is not good news for Bitcoin, however we can see signs of a buying pressure in the $ 50,000 area, as has happened before. At the same time a bullish divergence is formed with respect to the RSI.
$ 48,000 has proven to be a major rejection force as a support / resistance level. The plan that we will follow for Bitcoin, despite this large correction is still bullish, targeting $ 60,000.