Bitcoin- Is this a genuine reversal?
Bitcoin has spent the weekend hovering around 54k recent low, just to spike up a few hours back, in Asian session.
At this moment the price is 57300, well above 55.500 support
Regardless of this 10% rise from the bottom to the top, BtcUsd is still under trendline resistance and the important 60k and the situation is still unclear.
Only a continuation of this rise and a new high above 58.500 would convince me that the correction is over and it is time to buy.
Till then my approach is to wait and see
At this moment the price is 57300, well above 55.500 support
Regardless of this 10% rise from the bottom to the top, BtcUsd is still under trendline resistance and the important 60k and the situation is still unclear.
Only a continuation of this rise and a new high above 58.500 would convince me that the correction is over and it is time to buy.
Till then my approach is to wait and see
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📈 Forex & XAU/USD Channel:
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💎 Crypto Channel:
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