#Bitcoin

finding confluence of different indicators and outlooks is sometimes hard. Our take is:

1. We had a classic 5-wave uptrend and an ABC correction with an overarching wave B.

2. Confluence: Wave B ended at VAH (value area high) which has acted as resistance

3. POC (red line) acted as resistance as well (red arrow)

4. 1.618 Fib extension could be an area of supprt for a new uptrend (coincides with 0.5 FR as well as with VAL, value area low)

Conclusion 61.8 - 62.3k is the support area. On the higher timeframes, uptrend is still intact. If 61.8k breaks, we expect a test of the 2.618 Fib extension (56.8k).

Bias is turning bullish on short- and mid term timeframes.