1. BITCOIN (BTC) D1 frame analysis:
- BITCOIN (BTC) has a series of 04 consecutive bullish daily candlesticks. While, before that, there has been no increase for more than 4 consecutive days for BITCOIN (BTC) since mid-January 2023. So today, the uptrend may slow down or even correct down.
- Bar D1 on Sunday made a breakout beyond the 20-day accumulation zone. This can be seen as the completion of a double bottom.
- BITCOIN (BTC) target could be towards the 30,000 zone.
2. Analysis of BITCOIN (BTC) H4 frame:
- The point to note now is that the latest H4 bar of BITCOIN (BTC) has closed above the upper edge of the RSI, falling into an overbought state. In that case, a downward price correction is easy.
- If BITCOIN (BTC) dips back below, it could turn the breakout into a false breakout.
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![](https://public.bnbstatic.com/image/pgc/202305/5ee160fbbf999bf165b483d4aed7a4ed.jpg)