MARKET UPDATE: $BTC
It is currently at the 2nd bottom support and if it holds above it, we might see a good upward move from here.
The confirmation point of this move is the neckline of double bottom which is at $60K and once the price breaks the neckline with a candle close above that region we can expect the targets of this move to $66K.
If on the other hand, BTC breaks below our current support level with a 4H or Daily candle close below $55,400, then we can expect the drop in price to the next support level of $53K.
It is currently at the 2nd bottom support and if it holds above it, we might see a good upward move from here.
The confirmation point of this move is the neckline of double bottom which is at $60K and once the price breaks the neckline with a candle close above that region we can expect the targets of this move to $66K.
If on the other hand, BTC breaks below our current support level with a 4H or Daily candle close below $55,400, then we can expect the drop in price to the next support level of $53K.