..// Hello, in our last article we said that losing the $59,500 level for more than 24 hours would lead to a drop to the $52,000 levels and then the $48,000 levels and this is what actually happened, but the drop only reached $49,000, and in general the Short deal was excellent franklyâŠ
..//Now Bitcoin is trying to recover the $59,500 level to be an initial support line in order to return to the $65,000 levels, which is considered the key level for the strong upward movementâŠ
..//Over the course of 4 hours, we notice the formation of a bullish flag pattern, which is considered a bullish pattern par excellence, and the full technical target of this pattern is the $65,000 level. Since we are still within the pattern, there is a possibility of a decline to the $57,000 levels, after which we wait for the rise and breaking of the pattern upwards and achieving the mentioned target, which is $65,000...
..//But if the opposite happens and the pattern is broken to the downside, the full bearish technical target will be almost at the $48,000 level, and if we lose it, we will drop to the $42,000 level, and this will be very dangerous for Bitcoin, and so far this scenario is unlikely...
..//So, we hope that Bitcoin will maintain the $59,500 level as a support line for at least 24 or even 48 hours or even 72 hours and after that the recovery rate of $65,000 levels will be within reach which will lead us to $70k levels and up to $90k levels...
..//The article is not investment advice..
..//Good luck to all..
