The positive signs from our previous analysis had led to a quick move up, to retest the $6600 resistance level. Overall, the fact that the yearly low at around $5800 had become a tough support (so far) can lead a triple bottom bullish move. But, time will tell so the next days are critic for Bitcoin.
From here, next resistance as mentioned is at $6600 and then $6800 (MA-200 and resistance level). Making a higher low at around $7000 is the level to look for in Bitcoin’s recovery. Overall, RSI is very low (market is oversold), the next support might hold.
From the bear side: Next support area is at $6400, $6250 (moving average 50 days) and $6000.
Cryptocurrency charts by TradingView
