A new week, a new chart.
Bitcoin is currently sitting at a critical support level, and if it can hold this position successfully, it will be very rewarding. Once this support level is broken, it means that the structure on the daily time frame has been broken.
I expect the uptrend on the daily chart to continue, but we will have to wait and see.
For the uptrend to continue, the key is to recapture the resistance level around 69.5.
If this resistance level can be held, I will try to go long to get a higher low.
We can set liquidity below the low, and if there is strong momentum after grabbing liquidity, I will go long to reverse.
The presidential election is coming soon, so I have to be extra cautious.
If this support level is broken, I will closely monitor the price action when the price reaches the 63K level. Exciting times are coming soon.
