W1 : As shown on this chart, last week price action triggered a long white candle (bullish engulfing) which neutralized the former downside risk. In addition BTC closed above the Tenkan-Sen (Conversion line) which is also a positive sign. The pivot level on this W1 time frame is @ 52'700. Indeed, as seen in the past, this area coincided at the middle of long candle and therefore should also be seen as an equilibrium level. Therefore, BTC is caught now in a 52'700-60'000 trading range (59'979 being the high weekly closing seeing so far !) GLOBAL PICTURE ON A WEEKLY PERSPECTIVE - IMPLICATIONS OF A BREAKOUT OF THIS TRADING RANGE : Upside : Door open for 61'075 ahead of a retest of historical high @ 64'895 Downside : Mid Bollinger Band @ 47'525 Watch D1 for clues Have a nice week and have fun. All the best Take care Ironman8848