Following the correction from last night to this morning, BTC has shown clearer signs of the possibility of another correction.
The price structure is forming lower highs, and the EMA34 has been broken. In such situations, the market tends to retest the EMA lines below to find support before deciding on the next direction.
There's no need to rush into trades at this time. The most reasonable scenario is to patiently wait for BTC to correct to the 94,500–93,500 range, observe the price reaction there, and then look for entry points for a long position.
BTC
78,151.51
+2.69%
$