BTC has been in a descending channel and is now at the long term ascending trendline. BTC much close this next hour above the trendline and continue to gain momentum to stay above the ascending trendline or will test the support levels below at S1 at 59,501 and S2 at 57,516. The four times BTC has tested S1 when it was resistance, 2 times BTC broke through and 2 times it failed. BTC tested S2 five times when it was resistance and broke through 4 times. S1 is a flip of a coin whether it holds as support but S2 looks like better support as this price range has been validated several times. I have marked the decision area that BTC will test the ascending trendline and if it can hold will then try and break out of the descending channel. We have been here several times before the last two months and BTC has always failed to break down through the ascending channel. If BTC breaks through ascending channel, a much larger correction may be in store if S1 or S2 doesn't hold. Watch carefully!!