BTC/USDT (58k Dollars New Resistance)

💎Technical Analysis Summary💎



BTC/USDT

-58k dollars is our new resistance area to break Higher High
-Bitcoin is retraced by almost -20% from the top
-Looking at the daily time frame, the 20MA support is tested
-We can see a strong rebuy opportunity by the Bulls
-If the Daily candle will remain above the 20MA support area
-I think we are safe for now and expect good recovery in the next few days
-But looking at the previous consolidation range
-The moment Bitcoin tested the 20MA, it consolidated for 9 days
-Before deciding to lower and tested the 50MA on the daily time frame
-If this history repeats itself, we will like to consolidate it for more than a week
-This will be our good chance to rebuy some strong altcoins
-And expect another upside continuation provided Bitcoin will not drop to lower low


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