Last week's weekly candle closed above 59K. If this week's candle closes below 58K, the downside space will open.



The daily chart shows four consecutive lower shadows, with price still supported above 59K. If the daily candle body breaks below 58K without recovering, the bears will take the advantage.

Moreover, the daily chart is currently in a downward channel, with resistance near 66K above and support at 59K-57.5K below.

On the 4-hour chart, the price has not broken the previous low during the pullback, and any dip below 59K quickly recovers. Personal suggestion: open a long position at 59K as initial entry, add at 58K, and set stop loss at 57.5K.

The 4-hour resistance above is at 63.6K and 66K$BTC
BTC-0.84%
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