Bitcoin passed the first Pullback when it lost SMA50 and yesterday it broke important Support line, and today we are watching the second pullback. I am expecting that Bitcoin will go down more than the current price and it will touch SMA100 until two or three days. when Bitcoin arrives in the lower line of ascending channel, we have to see reactions from whales.
RSI Analyze: we watched one of the valid bearish signals === Bearish Failure Swing.๐
Support Zone: 52600$ unit 51100$.
Resistance Zone: 61000$ unit 63200$.
My Suggestion: if you want to have Bitcoin on your portfolio, you can wait until it touches the SMA100 or if you find signs for reversal.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
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Your chart shows a double bottom at the moment. The candle's body has to close underneath the support line to call it a valid break through. Otherwise, it is just tapping and testing, nothing else. At the moment the price is at the resistance line of a triangle on 2H. If it breaks it and then bounces off it, then we are going to 59000 USD and then 62000, followed by 65000.