Technically, today BTC made a Bullish Engulfing. However, yesterday it completed a 5-day very strong bearish continuation candle and, if it meant a reversal, I would be looking for a much stronger Engulfing and on a much higher volume.
Having this in mind, I am waiting for tomorrow.
- If BTC closes tomorrow with a strong green candle above 59500, I would be expecting a new All Time High in the nearest future.
- If BTC makes a red candle, there would be a good perspective for the continued decline.
My targets stand: 48000-38000.
I hope by Saturday’s (weekly) closure we would have a decision made.