BTC has a growth formation on a four-hour timeframe, for a rebound or reversal. After the established level of $56,565, the price rebounded and for more than 8 hours there has been a local range between the volume levels of $56,361 and $57,709.
Let us remind you of the morning review, today's and tomorrow's BTC daily candles are potentially reversal. The local trends indicator shows a “Cheap” signal on the day and after today’s panic sales (recorded by #CryptoQuant), the price may well show growth at least within the framework of a rebound.
The last two candles on the four-hour timeframe also show a growth signal.
The idea with a rebound will be confirmed by a breakdown of the volume level of $57,709. The immediate target is the volume level of $59,335, then $61,231. But even the second goal, with the current activity of buyers, is in question.
The idea will be in jeopardy when leaving for $56,565 and updating the lobby.
