Bitcoin is taking support at the daily 50 MA (Moving Average), the yellow line and needs to close above it to remain bullish. Bitcoin never closes a daily candle below daily 50 MA after the rally starts from $11,000. If BTC daily candle closes below the 50 MA then that is bearish and it will be going to test the 100 MA (Orange line).
This week is very crucial for BTC and we see volatility in the market. If BTC is able to reclaim the $60,000 resistance area then the sentiments again turn bullish. Also, there is a lot of buyers waiting in the $50,000-$53,000 area and it was clearly seen on the chart. See the long wick that means buyers are ready to buy at these levels. Use stop loss in every trade.
This week is very crucial for BTC and we see volatility in the market. If BTC is able to reclaim the $60,000 resistance area then the sentiments again turn bullish. Also, there is a lot of buyers waiting in the $50,000-$53,000 area and it was clearly seen on the chart. See the long wick that means buyers are ready to buy at these levels. Use stop loss in every trade.