$BTC - Daily update:
-My view yesterday was pretty good!
-I mentioned that the bitcoin price should settle in a range between $50,000 and $57,000 (upper limit).
➡️The short-term price remains bullish, but a double top is setting in on the $56,000 zone (H4 view)! ⚠️
Beware, a 14% rebound has already taken place between yesterday and today!
➡️The price is in a very neutral zone on the H4 view and remains stuck below the downtrend!
In view of the high volatility and uncertainty over the key role of the $50,000 support, I'm expecting a further downward correction (short term).
➡️Zooming in on the M15 view, a rising wedge (bearish pattern) below the H1 downtrend is clearly visible🚨📉
➡️On the daily view, this could be a bearish breakout and retest. The $56,000 - $57,000 zone is a strong resistance zone.
➡️On the weekly view, this could be a bullish retest before a tested upward explosion (SSB). (we must wait for more confirmation)
For the time being, it's hard to know, but I think the price should correct back down towards the $53,000 - $53,000 zone! (minimum).
If you want to take a short position, a stop loss above 57,400 seems safe.
If the downtrend is broken, the upper resistance is around $58,500 (see graph 4).
Watch out for high volatility on the #altcoins , I'm expecting a possible strong short term move on this market!⚠️
