What's happening with Bitcoin...


Let's open the daily frame and say...
Currently, we are witnessing a period of liquidity transitions in markets and metals.

Bitcoin broke the $60,000 support and formed a double bottom.

The positive pattern fails if it breaks the support and trades below $59,000.

However, if the pattern succeeds, execution is above $66,000 with a target expected between $72,000 and $76,000.

But if trading stays below the $59,000 support, it will likely head toward the target of the negative pattern, the descending flag, between $52,000 and $56,000.

For the record...
Positivity still exists, shorts are very high, and several upside gaps remain open.

As for RSI STOCH, it's positive on the weekly and a severe oversold on the 4-hour.

But the daily is still negative.

We also have a positive divergence...
$BTC $ETH
BTC1.19%
ETH3.12%
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