$BTC is still digesting the strongest correction of the cycle, and the daily candlestick chart makes it clear.
From the high of 82,850 down to the low of 59,130.91 — the drop was brutal and swift. Now the price has bounced back and is currently trading at 63,020.92, right in the zone where it previously found minor resistance as support.
As long as the price stays above 59,130.91, there's room for buyers to attempt a recovery towards the zone of 70,763.30, where the 25 MA and the previous psychological level converge.
If the price loses 59,130.91 with a strong close, the bearish structure has more room to run.
🎯 70,763.30
🎯 78,950.02
💣 82,850.00 if the momentum supports it
(+ confirmations)
Stop loss below 59,130.91. Invalidating factor: daily close below that level with strength.
The larger structure remains damaged — all moving averages (MA7, MA25, MA99) are in a bearish slope and the price is trading below all three. This is a tactical recovery, not a confirmed trend change.
I'm still on the screen. 👀
$BTC #BTC #RallyReady