🚨 UPDATE ON $BTC 🚨
Trade setup: Trends are mixed but remains in a long-term Uptrend. Near-term, however, price made a Lower Low and Lower High, which is a bearish sign. It broke below the key level of $60K (Lower Low) but has recovered back above it. But is this just a bounce from very oversold levels (RSI < 30) and price will resume its downward path? We wait for price to retest that $60K level, if successful, we could see it resume its Uptrend to $72K. If that retest fails, it could revisit the next support zone of $50K-$52K.
Support and Resistance: Nearest Support Zone is $60K, then $50K. The nearest Resistance Zone is $72K, then $79K.
