The BTC rate continues its local correction; already the second daily candle is testing the volume level of $67,088. Yesterday's review is completely current, so the update will be short.
There is no point in talking about the key resistance for the uptrend in the form of a downward trend since March 14 until the price of#BTCcan consolidate above the volume level of $68,232. Currently the price is locked between it and $67,088. A breakout in one direction will determine at least a local movement.
While the price is below $68,232, we are waiting for the EMA test of the 50 day TF (today $65,625). Along the way, liquidity was withdrawn behind a layer of candles on May 23 and 24. Locally the priority is downward, but in general it is upward. The price is preparing to rise in the fifth wave with an ATH update. Therefore, the correction now is more of a chance to buy more than to short.
The threat of breaking the uptrend is only when the body fixes the daily candle below the EMA of the 50 day TF.
If the descending structure is maintained, the BTC price decline will last until June 4-5.
