I see a strong price action. A correction to the 250 dollars area is in my opinion nothing bad and to consider as a retest of the upper bottom range.
If it hold another week in this price range we have a 3 Month break out with target 700 dollars.
Candles at higher timeframes are sometimes useful to cancel the noise of the price action.
Since 30th april candles closed in a range between 9.8k (strong resistance) and 8.6k (strong support).
The doji of 15th may may was followed by a red candle that engulfed the 4 priors candles.
The three green candle following this engulfing candle had a progressive small...
10.8k-11k is the big resistance of this structure.
I expect a retracement from this level to the 200 3D EMA The 3D 200 EMA is historically the level to confirm before to aim for new local and all times high. At this level there is also confluence of a lot of moving averages. Basically bulls have to put this level in to the pocket before aiming to go higher.
Sell off are often a good thing. They let understand how strong the market is.
Sell off are tests. If bitcoin holds this test, the next station is called higher high.
If it does not hold, crypto is done for a while.
Under 3k, trend is broken, lower high is in place and lower low is the next step.
In my opinion Ethereum took bitcoin out of the bear market...